Hops will grow on anything. They will twine up that chain link no problem.
once they get to the top, they will still grow up into the air…several bines growing together for support…but will eventually fall back down to the fence or ground. So you are likely to end up with a bit of a snarl and a fence that looks overrun and covered with hops.
Not necessarily a bad thing, but depends on your view. They will flower, although not as heavily if grown taller. You may have some flowers that get buried in the mass of bines and do not develop as well. At the end of the season, it could be a PITA to remove dried bines off the fence if you need to have it clear of remnant vegetation. I thought about using a blow torch once.
So…yes it can work. But not ideal.