I do not know what kind of video card you have, but if we assume that no more than 75 watts comes through the pci-e port, then your connection option can be used. I would use this scheme for video cards that consume no more than 150 watts without fear.
I have two RTX 3070s with it. Will that be alright?
Different algorithms and different consumption.
If 130 watts, then OK
If 190 watts, then this is a bad solution.
2 moment, this is the quality of your adapter. If there are high-quality cables and good crimping, then OK.
For such video cards, I would use this as a temporary solution. If possible, I would add 1 more cable to your server PSU, or buy the necessary PSU and use your PSU on another farm.
The cost of the error is very high, so I would only use it for a temporary solution when consuming no more than 150 watts per video card.