Slade’s item pull feels awful both as Slade and against him, it encourages camping and running away to pull items, and it makes pulling a boomerang or bomb feel like it’s never worth it on top of the cost. I feel that a menu like how Mollo’s bombs worked would make slade feel stronger and like a more coherent character who doesn’t need to rely as immensely on his wing boots, which is definitely warranted and needed.
Alternatively you could make it possible to skip ahead in the cycle by repeatedly pressing special like how smash 4’s monado arts worked for shulk if you’re too worried about instant bomb pull being broken (tho I do think you could just give him more lag on the more expensive item pulls or like a unique sound effect or voice line.
Slade feels by far the weakest in the game and he needs all the help he can get, and I feel that this change would make him no longer the worst character in the game, or at least not by as much.

I had an idea to rework it to be more like a charge shot.
Each level of charge could cost a set amount of coins, which is automatically spent when going to the next charge level. Tapping b would use the current charge level (giving Slade the stored item) and holding would charge to the next level (the same way shuriken works but for all items basically).
And ofc you could cancel the move at any point while charging to store that charge level/item.