Space Cyber-Physical Systems (S-CPS) such as spacecraft and satellites strongly rely on the reliability of onboard computers to guarantee the success of their missions. Relying solely on radiation-hardened technologies is extremely expensive, and developing inflexible architectural and microarchitectural modifications to introduce modular redundancy within a system leads to significant area increase and performance degradation as well. To mitigate the overheads of traditional radiation hardening and modular redundancy approaches, we present a novel Hybrid Modular Redundancy (HMR) approach, a redundancy scheme that features a cluster of RISC-V processors with a flexible on-demand dual-core and triple-core lockstep grouping of computing cores with runtime split-lock capabilities. Further, we propose two recovery approaches, software-based and hardware-based, trading off performance and area overhead. Running at 430 MHz, our fault-tolerant cluster achieves up to 1160 MOPS on a matrix multiplication benchmark when configured in non-redundant mode and 617 and 414 MOPS in dual and triple mode, respectively. A software-based recovery in triple mode requires 363 clock cycles and occupies 0.612 mm 2 , representing a 1.3% area overhead over a non-redundant 12-core RISC-V cluster. As a high-performance alternative, a new hardware-based method provides rapid fault recovery in just 24 clock cycles and occupies 0.660 mm 2 , namely ∼9.4% area overhead over the baseline non-redundant RISC-V cluster. The cluster is also enhanced with split-lock capabilities to enter one of the available redundant modes with minimum performance loss, allowing execution of a safety-critical portion of code with 310 and 23 clock cycles overhead for entry and exit, respectively. The proposed system is the first to integrate these functionalities on an open-source RISC-V-based compute device, enabling finely tunable reliability vs. performance trade-offs.