Sure, it works, but it’s worth noting that the project has recently been embroiled in a controversy surrounding its community dynamics. Despite the projects promising features, there have been recent reports on a toxic community environment, with instances of tolerance towards hateful views and harassment. Considering this recent controversy, I would recommend approaching the Hyprland project with caution and, for now, staying away until there are visible improvements in the community atmosphere (which I doubt will happen).
Curiosity got the best of me, so I installed it using this copr, and then spent about 30 minutes exploring it and modifying the default configuration. It was just as fast and stable as sway during that time. I had no issues with running VScode, my FreeBSD Qemu VM, or anything else within it. And there was nothing bad in the Systemd journal either.
Personally, I have no plans on switching from sway as my daily driver. But if the community issues Samil mentioned get resolved and Fedora builds official hyprland packages (or even a hyprland spin), I’d consider migrating to it.