Reverse-Proxying Google Fonts as GDPR workaround allowed?

As #1495 was closed without actually resolving the issue for anyone.

A technical and from a GDPR point of view viable solution would be reverse proxying fonts.googleapis.com, rewriting the return CSS and also reverse-proxy fonts.gstatic.com. However, is that a solution, Google does accept?

An example NGINX config may clarify what I'm talking about. Is running something like this in the public internet accepted by Google?

server {
server_name fonts.example.com;

location / {
proxy_pass https://fonts.googleapis.com/;
proxy_set_header Host fonts.googleapis.com;
proxy_set_header Accept-Encoding "";

subs_filter_types text/css;
subs_filter //fonts.gstatic.com/ //fonts.example.com/fonts/;
}

location /fonts {
proxy_pass https://fonts.gstatic.com/;
proxy_set_header Host fonts.gstatic.com;
}
}