Would have to be modified substantially as the 914 was a mid-engine car. Laying the setup in a TD would put the Type 4 engine right about where your butt is supposed to be.
That said,
1. The Type 4 is a stronger, more durable engine. Worth having if you can, and
2. The 914 transaxle is a 5-speed, which is awesome, and can be converted for use in a rear engined car by flipping the ring and pinion and replacing the nosecone with one from a 911 or 912, which puts the shift linkage more like where it needs to be in a Beetle/kit car.
But there IS very much more to it than that. Search the SAMBA for tales of how to and how to NOT swap the five speed Porsche boxes into your Beetle project. I would not try it myself but I would believe a man who builds race cars and custom stuff for a living could do it.
Bottom line: no one out there thinks of this project as either “cheap” or “easy” but it is doable, and if you get it done we will all have serious transmission envy.