That ASUS won't fail on you thanks to proper VRM protection methods. However, being unheatsinked and likely totally uncooled in your scenario due to aftermarket CPU heatsink, they may overheat and cause the protection (by way of throttling the CPU) to activate too often, causing loss in performance. Ensure your VRMs are cooled and you will be fine. ASUS uses a quality 4+1 setup.
There are several better options than Hyper 212+ on the market. The fact that people use hyper 212+ almost as if a reference point is ridiculous when heatsinks like the Sunbeam Twister
still cost less or the same, and perform better.