Don't know about whether a 4inch one would work as well but I made a 2 bucket cyclone for my vaccuum and it is brilliant (Single versions work pretty well from what I've seen). Cost me basically nothing but an hours tinkering. The videos on youtube show they are around 98+% efficient at removing the dust. I certainly don't see much/any dust in the dysons hopper when I've used the cyclone bucket taking the dust from my bandsaw.
easy enough to get 4inch tubing and bends for waste pipe. You'd just need a barrel of some sort which you can prob get from freeads. It's as simple as a pipe coming into the side at an angle and a pipe vertical from the top.