Welcome @Darshna Amin !
I would definitely recommend against that. You want to have the fastest drive possible as per your sizing. Our Dedupe Building guide specifies all of the requirements for a DDB’s location/drive:
https://documentation.commvault.com/commvault/v11_sp20/article?p=12411.htm
This section is the most relevant to you:
DDB Backup on Cloud
Deduplication Database (DDB) backup is not recommended on Archive Object Storage, like Glacier, Oracle Archive, Azure Archive, etc.
It is recommended to perform DDB backups to a Disk library. If however a Cloud library is used, create a new Cloud library that does not have the Archive Object Storage enabled (like Amazon S3) as the target and use it for performing both the DDB and Index backups.