Of course you can use it. It will not be optimal, but you already know that. The exit hole is much larger than .22, and therefore you'll have quite a bit of access noise out the front end.
However, the YHM Cobra is not a "user serviceable" can. That is, you can't take it apart and clean it yourself. You have to send it back to the MFG to have it serviced, and I'm not sure what YHM charges for cleaning.
.22LR is notoriously DIRTY. It'll gunk up a can faster than any other round out there. I will only buy a user serviceable .22 can for that reason.
.22's are also for the most part fixed barrel blowback designs. The nielson device or spring loaded coupler is not needed on a .22. If they offer a spring eliminator sleeve or shim, then get one to use it with your .22 if you so choose. Some will say that a nielson device on a fixed barrel is okay, for limited use, but it will eventually cause wear of the piston to the housing of the nielson device that in THEORY CAN cause gouging of one or the other, resulting in binding. If your device binds, it starts jamming your tilt barrel hosts.