update 17 Apr: Saw some warping at the fan duct output (shown below) when printing ASA with my ASA cover. Have made v6 design which resues the OEM fan duct in the printed cover to resolve this: https://makerworld.com/en/models/433126 

I have my K1 Max next to my P1S and so I couldnt help but be jealous of how easy it was to pop off the P1S toolhead cover. So, I figured it should be doable for the K1 series.. I found and remixed DerrickDarrell's nice shroud for the K1 series by slicing it to fit around the K1 toolhead components and adding magnet pockets in available space.

This should only be printed in ASA, ABS or better to withstand the hotend temperatures so close to the nozzle. The PLA profile is for testing only.

Requires 8 - 6x3mm magnets.

Installation is super easy:

1. Glue the magnets into the 4 locations on each part of the printed cover (ensure they are in the correct way so they attract each other).
2. Remove the old cover and dissamble the fan by removing the 3 screws using the same hex tool you took the cover off with.
3. Install the fan in the new printed cover, ensuring you keep the same orientation.
4. Install the rear section of the printed cover.
5. Connect the fan wire.
6. Move the front cover into position and let the magnets do the rest!

Note: The printed cover actually weighs slightly less than the Creality cover (29g vs 32g), so no worries about adding extra weight to a toolhead that's being thrown around at high speeds.

Disclaimer: This model has the potential to harm your system. Whereas the Bambu printer has a sensor built in for the event of the magnetic toolhead cover coming off, the K1 series of course does not. If your magnetic cover comes off during a print, it is impossible to say what harm could come to your machine. Use at your own risk!