I’m not expert, on all of the consequences, but, I’ve been running just fine for a year with the whole thing installed on D:. Well, there is some stuff on C: that you don’t have control over, but, Onestore and Community are on D:.
My machine has two 1TB drives, and addon linker didn’t exist when I first installed, so I chose the drive with more space on it knowing I’ll be adding tons of addons. I’ve looked at the addon linker since, but, it looked too complicated to me. But, that’s me.