Most third party cables are designed for conversion from USB C to another format, Sonos needs it the other way around, from the other format to USB C. If this cable does that, it should be fine. It would, however, be odd for this cable to take the output from this 4.4mm to USB C digital. 
 

You might post a link to the intended cable, we might be able to provide better insight. 

For what it is worth, having just looked up this device, I don’t see a digital output on it, much less a 4.4mm output, just a standard headphone jack (analog) which would be 3.5 mm. Am I missing something on this website? It does claim to have a USB C interface, I don’t see it on the device. 

Huh. I found this, fascinating:

The NW-ZX700 Series series features a balanced single plug, designed for the 04.4mm balanced connection cable. This separates left and right sound signals, while minimizing signal transmission loss and resulting sound deterioration.

My first response stands, though. My guess is those are line level analog outputs. You would still need to convert that from analog to digital, before it went in to the Sonos USB C input.