Sure, it’ll work, it’s a good solution.
I will only say that it’s not a solution you’d use from scratch, but rather as a “fix” to deal with existing setup, for instance if you just had no time to deal with it otherwise, and the trade towards less efficient physics has no real impact. If you were working on a new character and can deal with the rig appropriately, it’s still better to make a skeleton that can support simpler physics so every limb doesn’t consist of 4 bodies (in this case), but rather 2. So even consider a rig with more twist bones, it gets a lot very quickly, having to chain the rigid bodies like that.