Fairly typical for Hapkido (or what I've run into in Tae Kwon Do classes that teach wrist escapes).
Tried it on my son and... it can work
I'm trying to build up my repertoire of hoshinsul and one-step techniques so... another one for the catalog (now thinking about how to adapt it for cross side grabs, etc... hmmm..now that I think about it...I've done something similar for a cross side shoulder grab)
I would modify it with some sorta strike early on. A couple general rules I try to follow is:
1) If you have one hand on me, you have one hand free. Therefore, I need to address that threat of that other hand
a) if my escape technique involves only using one hand, my other hand can be addressing the threat of your other hand as well (such as blocking my face form a punch).
b) If my escape technique uses both of my hands, I need to get you distracted to short-circuit your response (basically get a head of you and get you reacting to what I just did rather than what I'm doing)
This, to me, is important because if you grab me, you're not just going to stand there with a free hand while I start to work my escape with both hands.
So, for the above technique, given the positioning, I would at very least start with a punch to the midsection with the left hand before moving my left hand over for the release. One other good possibility would be a low swing kick* to the opponents shin or knee with my left leg as I was turning my shoulders/hips to put my left hand over the opponents grabbing hand.
*low sing kick is a low kick by swing the lower part of the leg across the striking target. The striking edge is the blade edge of the foot and it drags across the target rather than directly into the target. Good as a quick setup for some pain distraction of you are shifting your stance while setting up your counter.