Pretty sure that'll work. The oblong notches could be ground a bit to adjust the fit if you don't remove too much material. Make sure the tiller rope (plastic coated wire cable) you use is good quality and heavy enough so it can't slip off of the pulley and jam.
Appears to be the right connector, installed many in my younger years. The above post is correct, use a good quality cable to get the best performance, there should also be a spring at each end to keep the cable taught while it runs back and forth thru turning..