Consider:
I have tried playing with the displace modifier and various texture, but I cannot seem to find the right combination.
Consider:
I have tried playing with the displace modifier and various texture, but I cannot seem to find the right combination.
It looks like a noisy volume to mesh transformation might work for you.
Perhaps a modified "Swiss Cheese" geo_node setup (below) would work with a noisy displacement shader added. Best of luck :)

On second thought...
Here is a material nodes only answer:
It will take a pretty dense mesh:
But, It renders pretty quickly.

You could: