I'm now doing that with some Chinese-mad rgb/bi-color LED panels. I usually set them around 4500°K and the first shot includes my gray balance card to get the color zeroed-out. Much faster/easier than setting up my Elinchrom lighting, especially for smaller projects.
They aren't the brightest panels but adequate to light most paintings I reproduce. AFAIK, the color quality on the bi-color LED array is close enough and doesn't need to much tweaking after balancing using the digital gray card. You may need to shop-around and read a few reviews to see what panels may work the best, but from my experience one doesn't need the most expensive panels as needed in the past when a lot of the panels had a hideous green tint.
The panels I'm using now are the Packetlite F7 and are a few years old, charging via USB-C and run maybe 3+ hours on a charge. I think I bought one to give it a try then ended up buying a couple more and they seemed to be consistent between the units unlike the bi-color panels I had ten years ago.
For a 40x60 I'd think you may need two on either side to have enough photons to light up your painting.