Sorry to say that in my opinion it should work but I don't think it will be a very pleasurable experience using a Ryzen processor or even an Intel processor with no inboard GPU as you will not have access to any hardware acceleration. Everything you do will be processed via the software through the CPU. That may result in less than stellar performance. Both VPX and MEP rely heavily on having an Intel GPU using at least Intel HD 520 or above to facilitate smoother playback and faster encoding times when exporting. Even if you added an nvidia graphics card it will not improve performance much or possibly not at all without the aid of an Intel GPU.
Besides Intel, the latest MAGIX "Infusion engine" supports Nvidia and even AMD GPUs for display preview acceleration. Rendering is only accelerated on Nvidia and only for H.265. I use Movie Edit Pro on Ryzen 9 3900x and AMD RX 580 - and for 1080p material, the editing is reasonably fast. Rendering - not so much, but I guess it's best to evaluate using a trial.