SN74LVC1G125: Possible Up Level Translation Usage?

Hi,

I am looking into a possible way to do up level shifting on SN74LVC1G125 with the convenience of Ioff feature. Please see the following drawing. Basically the RX data is feed into /OE and normal data input is pull to GND. When RX input is high(2.5V), CASE_RX is HiZ and pull-up by external resistor. I have done some TINA simulation where this circuitry works as expected.

Would there be any other consideration to use SN74LVC1G125 like this? Is it safe in such circuit config?

Best Regards,

Peiheng