Can content be hosted/run on an AWS cluster of the region of our choice (EUROPE)?

This is not currently an option, nor were any announcements made to indicate this is on the roadmap. The Wishlist is the best place to see pending possible release enhancements.

We too would be very interested in this. The site we are currently working on (our first with webflow) has no GDPR relevant data, but several other we are looking at will have.