This works but is bound with troubles. A LabVIEW array is dynamic as LabVIEW is a fully managed programming environment. No it is not .Net managed, at the time the LabVIEW developers designed the basics that are valid until today, .Net was not even an idea on earth, let's not talk about a fact. But it is managed and the LabVIEW runtime handles that all behind the curtains for you.
This means that a LabVIEW variable, and especially a handle that arrays and strings are, is only guaranteed to be valid for the duration of the Call Library Node call itself. After that node returns, any passed in array, string or even scalar variable can at any point be resized, relocated or even simply get deallocated. So the pointer that you get in this way can very well get invalidated immediately after that Call Library Node returns. For performance reasons, LabVIEW tries to maintain arrays and strings for as long as possible when it can, but to decide if it can and if it propritizes this rule above other possible rules to improve performance is a tricky business and can even change between LabVIEW versions.
It is pretty safe to assume that an array or string wire that you wire through a Call Library Node, doesn't branch into other nodes and is wired to the end of the current diagram structure, is left untouched for the duration of this diagram structure. But even that is not something the LabVIEW management contract guarantees. It's just the most prudent thing to do in almost any case to not sacrifice performance. Once you have a branch in the wire before or after the Call Library Node to retrieve the internal data pointer in the handle, or you do not wire the array data to the diagram structure border, all bets are open to if and when LabVIEW may decide to modify that handle (and consequently invalidate the data pointer you just got).