I think it will work fine. If you are using a shimano hollowtech BB or similar then there is space between that and the bb shell for the hose, and if you route it behind the axle then it can exit the shell at a nice shallow angle towards the front (if the hole is drilled at that angle).
I might alternatively drill the hole in the front of the seat tube about an inch or two from the bottom if it was a steel frame, but probably wouldn’t risk that in aluminium.