I'm not shooting 4x5 yet but I assume it would work if you could use an RA-4 tray setup for temperature. You'll lose a lot of heat in an open tray but it only needs to be controlled critically for 3:15-3:30 or so.
Developed another 120 roll of Portra 160NC this morning, warmed the chems up right from cold storage. Still turning out great! No sign I'll be throwing out my 1L kit soon. Put it back into cold storage afterward.