I don't think it will work. It's not taking the displayport-over-usb 3.1 signal and splitting it out like the dock does. It's a pseudo-external graphics card (I have similar plugable devices) that runs a driver shim on the host and has it export the display signal over USB to be converted to HDMI or whatever to send on to the monitor.
Similar end result, but it looks like the method is very different.