Is this Component to HDMI converter enough to see my ps2 output on my computer monitor?

Will this adapter be enough?
Or, more precisely, is converting the signal the only thing i need to do? Are there any counterindications for this method?

I’ve looked for answers on this method already and nobody seems to have asked this, probably because most people who have an HDMI capable device usually have it as a TV screen, mine is, however, my pc monitor, which doesn’t have any analog inputs making HDMI or VGA/DVI my only options.

And since a proper VGA adapter is a pain in the ass to build and find out compatibility for, i’ve decided that i’d rather pay up.

Also: will linking this to a 16:9 monitor mean the image will result stretched? (i assume so, but i hope not).