My 2p:

Yes it will work if the splitter is passive, I do similar stuff with my TRS midi and its fine.

However…

I really recommend you go for a MIDI router!

You can pick up a cheap 2nd hand Iconnect MIDI4+ (or similar) for peanuts on Ebay.

Right now you might only want to split it simply, but who knows how you’ll feel in 2 years, or 5?

You may need to merge midi, filter, split, may have USB controllers. May want to sequence 3 devices from 1 device, etc.

Yes it can be a chore setting them up. But its not that hard and once its done its done, and you never have to think about it.

Give your setup room to grow!