Parts of this scene are on the DVD. I lean closer to being a purist than an adaptationist, but even so this might just have worked. It would have provided a great cinematic bookend to the scene of Elendil and Isildur facing Sauron in the prologue. And, even though it is impossible according to the books, Sauron's "fair form" of Annatar looked darned cool.
Watching Jackson's trilogy all in one go, it's clear that Jackson is building toward the Aragorn/Sauron throwdown.
Time and again, Aragorn fears following the same path as Isildur and suffering from the same weaknesses. Arwen says to Aragorn, "You will confront Sauron, and you will defeat him." She doesn't seem to mean it in a "Your armies will clash and you'll emerge victorious" sort of way, either.
In the context of the films, Aragorn meeting Sauron in single combat would have worked. Yes, it's different than the books, but in my opinion it's a good sort of different. It's where Jackson's story was heading.
Sauron's absence isn't as notable when watching Return of the King
alone, but if watching all three together there's something weird and unsatisfying about Aragorn's Final Boss being a Cave Troll.