Sort of. That's basically addressing the Elgato directly, the way their software does, and then producing an NDI feed. If you have one of these devices already and need to use it with OBS, this is a decent workaround, and probably still better than their own software.
However Elgato should not be promoting that device as "compatible with MacOS" and "compatible with OBS" without specifying that you can't use it with OBS while running on MacOS, and this workaround doesn't really change that.
OBS on MacOS works better with Magewell, BlackMagic, or AJA hardware, or with Elgato hardware that doesn't have this limitation, like the CamLink.