Yeah, it is possible with Sentinel 5P Satellite data. But the data availability is a drawback. You may check further details on the official site (https://sentinel.esa.int/web/sentinel/missions/sentinel-5p) and you can access those data from the European Space Agency portal and Google Earth Engine.
There were two programming languages (i.e., JavaScript and Python) used to process and extract the satellite images in Google Earth Engine. Currently, I'm working on this topic. Also, u can get more satellite data from https://giovanni.gsfc.nasa.gov/giovanni/#service=TmAvMp&starttime=&endtime=&dataKeyword=M2TMNXAER. Further, I can't publicly disclose my code to extract the NO2 and SO2, this is my mail ID ([email protected]) Please state your exact needs. Thank you.
There are already operational products from OMI, OMPS, TROPOMI and GOME2. See e.g. comparison between OMI and OMPS in Article Tropospheric SO2 and NO2 in 2012–2018: Contrasting views of ...
Regarding algorithms, I suggest you look into doi:10.1002/2014GL060136.