no. In short the car will fall flat on its face and the car will see vtec isnt working and throw up a rev limiter of 4000. It'll kick vtec back on when the solenoid is plugged in and you start the car next time.
I drove my accord for about 2 miles like this. It's VASTLY noticeable, in that if the car barely makes it to 5000 rpm, and the power falls off around 3500, then vtec isnt working.. If you can rev to 6000 and still have a decent amount of power, vtec is working