It should work. The drain plug in my L322 engine (M62 BMW) stripped out so I dropped the lower sump and "helicoiled" it with a kit from China. It's been trouble-free for over 5 years. I put Aviation Form-a-Gasket on the helicoil before inserting. Not to lock it but to create a seal between the sump and the helicoil.
Having said that, apparently there are better thread replacements than Helicoils for this application, e.g., Time-Serts.
The original sump plug was very short but the sump thread was long. The sump plug should have been longer. In the short term while awaiting the helicoil kit from China I used a longer sump plug with an O-ring on it. Got it from SuperCrap, like this: Smart-O Sump / Drain Plug - M12 x 1.25mm | Supercheap Auto
(helicoil not capitalised as it wasn't the genuine item.)


 
						
					 
					
					
 
				
				
				
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