Why wouldn’t it work? Stories usually fail because the plot is bad or because they’re badly told, and it’s not that hard to maintain verisimilitude just because seemingly opposite ideas like magic and advanced technology are combined - just communicate what your magic and technology can and cannot do in broad strokes and stick to it, and avoid asspulls that make no sense and/or undermine the character beats you’re showing. But you get exactly the same issues in a story with only magic or only advanced technology.