Not recommended — #28 of 31 Velvet ranks #28 of 31 fabrics for night sweats. It is a poor fabric for this. Ranked on breathability and moisture absorption, penalised for warmth and weight. The top pick is Linen.
Velvet measures 38/100 for breathability, 8% moisture regain, 65/100 warmth, at 320 gsm. For night sweats, low breathability and limited moisture absorption decide comfort — and its higher warmth risks trapping heat against the skin.