Hi-lo and club foot are not the same. Dare I say every horse has some degree of hi-lo in that they have a "high" side where the arc of the hoof is higher, and a "low" side where the arc is lower. They will have one bigger shoulder, and one more well developed hindquarter (usually the "high" side).
My PSG horse who has competed successfully internationally in a sport where unevenness is penalized (dressage) has hi-lo. You can't "fix" it, the feet will always grow differently. His RF always grows more heel and tends to contract and his LF always grows more toe and tends to collapse in the heels. Shoeing will exacerbate the issue by "pulling" the low foot forward and contracting the high foot. However, when on a 4-5 week schedule you can minimize these effects and balance the hooves with shoeing techniques. Which is what I've been doing for the past 5 years. You do need a great farrier with excellent blacksmithing experience and the patience to stand for a 3 hour shoeing. He measures the feet every time, records it, and over time he's found out exactly what angle and length to trim to in order to keep the hooves balanced. As well he adapts the shoes every time. We play with different positioning of the clips, putting length out the backs of the shoes, etc..
He definitely disagrees with any kind of wedge pads to deal with hi-lo, or any special shoes.
Barefoot can also work, but again, you need to stay on a short (under 6 week) schedule to keep the hooves even ish.
The BEST, number one, hands down way I've found to "monitor" my horse's hooves is to square him up on a level surface and see if his knees are even. This has routinely been the only indicator of how "good" or "bad" the feet are that I have found to work 100% of the time. The other way that works OK (if you have a decent rider on the horse) is to check the reactivity on the TMJ to palpation, and on the neck between vertebrae (this is where a good RMT or body worker comes in). Regular massages after farrier work really help to release the overworked muscles higher up in the body.
Good luck! Hi-lo is definitely manageable with a good team of farrier, vet and a body worker (mine uses massage and active release).
They say money doesn't buy happiness -- well happiness doesn't buy horses!