We study the association and dissociation dynamics of weakly bound heteronuclear Feshbach molecules using transverse radio-frequency fields for expected parameters accessible through the microgravity environment of NASA's Cold Atom Laboratory (CAL) aboard the International Space Station, including subnanokelvin temperatures and atomic densities as low as
108/cm3. We show that under such conditions, thermal and loss effects can be greatly suppressed, resulting in a high efficiency of both association and dissociation of Feshbach molecules with a mean size exceeding
104a0 and allowing for the coherence in atom-molecule transitions to be clearly observable. Our theoretical model for heteronuclear mixtures includes thermal, loss, and density effects in a simple and conceptually clear manner. We derive the temperature, density, and scattering length regimes of $^{41}\mathrm{K}\text{\ensuremath{-}}^{87}\mathrm{Rb}$ that allow optimal association or dissociation efficiency with minimal heating and loss to guide upcoming experiments with ultracold atomic gases in space.