Do it.
Yes you can do it. Yes it works just fine.
I have done 10-15 of them and they all work perfect.
Just pick up some small heat shrink (dubro green) for the individual wires, and somr larger shrink for the whole loom. (big enough to slide the connector easily)
Cut to length, solder, shrink each wire, then shrink the whole loom.
It looks good and works great.