It will run, but probably will false jam and possibly could cause fuser damage
I would not even attempt it.
It is not meant to be printed on a commercial printer.
You won't find a fast printer that will do it jam free. Due to the fact that these printers all measure the paper that is going through and compare it to what should be coming through, it (the printer) knows exactly where the edge of the paper should be and when, so if the deckle edged paper has an incut where the sensor is, it will not trip when it should, and that, to the printer means the paper stopped or slowed down, it will halt the job mid print and declare a jam.
Due just to the cost of deckle edge paper, that is a large risk to take,