Hey all. Trying to insulate the rim joist, I already air sealed with caulk, i got most of the panels in except 3 spots, where 12-2 wiring goes right down the middle, through the middle of the rim joist, to outside outlets.

I'm thinking i should just punch a hole in the board, where the wire will rest, and a cut-line through the board to slide the wire through it, then foam adhesive the line and spray foam to seal. Is this a viable option?