Dixie Gun Works did a study on this some years ago.
Got a 30 inch barreled rifle, fired a few shots, then sawed an inch off, fired a few more shots, etc.
They got down to a 16 inch barrel, they were using a chronograph.
Without trying to dig up that study, which may be printed in the Catalog, I recall that the loss from 28 inch barrel to 21 inch barrel is not that bad.
Off the top of my head, I will say you would get a 10 percent velocity loss, might have been more like 8 percent.
So it is reasonable to shoot, and hunt with a 21 inch barrel muzzleloader.
As I also recall, the amount of power gained by going from a 28 inch barrel, to a 42 inch barrel, was negligible.