Nothing wrong with trying, but it’s highly unlikely that foveated rendering will have any positive impact on performance with vorpX. Rendering is a two step process with vorpX:
First the game gets rendered at the resolution set in the game options. vorpX then processes the resulting image and sends it to the headset. Retroactively applied foveated rendering would affect only the second step, a relatively tiny fraction of rendering-work compared to the actual game rendering. Most likely you end up with the drawback of foveated rendering (blurry screen edges) without any noteworthy performance benefit.
The same also applies to anything else that sends flat games rendered on your PC to the headset BTW, just in case you are wondering.