Yes, I don't see why not? It isn't like it is going to be burned through or melted by the exhaust manifold. If that were the case, the heater hose itself would be fubar by now.
What is the problem with that? The overflow tank is PLASTIC! it gets hot coolant all the time. It is so cheesy I can almost poke a hole in it with my finger. The overflow bottle pressure cap looks like it came off a 2 liter soda bottle. Do you really think schedule 40 can't handle the engine compartment environment?