Yes you can do that. But keep in mind that Storage IO Control and IO Load Balancing (IO Metrics from SDRS) are different when it comes to enforcement. SIOC is per datastore and it enforces right away when there is IO contention based on shares. IO Load Balancing from SDRS is calculated per an amount of time and does storage vMotions to balance out the datastores in a datastore cluster.
You can still enable I/O metric if that's what you want and then turn off SIOC but my suggestion is to leave automation to Manual. You don't want SDRS suddenly performing storage vMotions in the middle of the day.