This is fine as a blanking panel. One thing to watch out for is its height especially if you mount this above or below a rack adapter or tray.
If you want to use it for another purpose, a few of things to keep in mind:
- It?s made of steel so machining it will take a fair bit of effort (and appropriate machinery and tools).
- It?s not U-shaped, if you mount connectors on it, it will flex.