Look at what you can do with a 7mm-08, and that is really close to what you are going to do with a 7mm Creedmoor.
Internal Ballistics:
The case capacity for a 7mm Creedmoor and a 7mm-08 would be within 1-2 grains of H2O, so they are basically going to perform the same.
According to Quickload, looking at a 7mm-08, a 162 ELD-X with a COAL of 2.830 with 39 grains of Varget out of a 18" barrel will produce 58,000 PSI and 2,450 fps. That is about 99% case capacity and a 98% burn rate. If you go with a 24" barrel, you can increase the burn rate to over 99%, and get 2,600 fps.
External Ballistics:
Plug a 162 ELD-X into whatever ballistics app you run at somewhere between 2,450-2,600 fps based on the barrel length that you would use.
Here are the Hornady BC values, based on velocity:
https://www.hornady.com/support/ballistic-coefficient
At above 2,500 fps, which is doable out of a 20"+ barrel, the G7 would be .338
Terminal Ballistics:
At 2,600 fps, that is 2,450 lbs at the barrel. It will be right around 1,000 lbs at 725 yards.
Interestingly, Hornady is using the 150 ELD-X in their 7mm-08 Precision Hunter ammo:
https://www.hornady.com/ammunition/rifle/7mm-08-rem-150-gr-eld-x-precision-hunter#!/
You can find the specs on it there.
Would a 7mm Creedmoor with a 162 ELD-X work, YES. Based on the data above, you should be able to look at both the Pros & Cons compared to something else.
Looking at a 7mm Creedmoor versus a 7mm-08, you can get better brass options with the Creedmoor, but you are also going to have the extra work to expand the cases, and expanded cases can also be notrious for donuts if you don't turn the necks. You are also going to have more of an issue of getting a reamer and dies with the 7mm Creedmoor.
The 7mm Creedmoor was done about 5 years ago:
https://www.snipershide.com/shooting/threads/7mm-creedmoor-powder-and-velocity-tests.161175/
It has not really gone anywhere because the existing 7mm-08 could pretty much match it, and there a lot of other cartridges that can easily beat it.
Based on all of that, your call!