Yep, that can totally be done! There are a few ways to handle something like that, but the simplest way would be to event a 'Show Choice' to appear when the player begins fishing to select their bait. :>
when the fishing pole is selected by tool id a second UI square pops up where you can press pg.down(W) and cycle through baits that i gave their own ID, basically the same as you did with the tool id. been testing it out and i have not had an issue so far. im gonna move everything to the bottom center of the screen with a little opacity. had to butcher your sausage to make a worm lol