It would likely be designed for that purpose. They are just plastic and wire it will have no impact on the performance. The wires just need to be in the correct pin locations. A cable like that is not used for much else so a commercial cable will like work fine. If you are building it yourself be careful to keep the 2 phone lines on the correct pin positions.
Now you still must have a vdsl modem, it would just be one that takes rj45. You can not plug it into a ethernet port since the line signaling is still dsl, changing the plastic does not affect that.