As long as there's enough of it, I don't see why not but there are a few things you should consider.
If you decide to have it have it put on the a cue, the wrap channel would likely have to be cut deeper than what's common for linen. This line is silk and while I'm guessing it would press down smooth, how much it will press down is anyone's guess. That'll make it tricky to know for sure how deep to actually cut the channel.
Once a channel is cut deeper than standard, there can be a lot involved in "building it back up" in the event you or someone else would like to have different wrap put on.
Will it look good, feel nice, or hold up well? I can't tell you. Has someone used it before, probably. Did they have good results, maybe. Silk was used on many cues in the early 20th century, but it fell out of favor for linen for what ever reasons.