I think it is not a good idea. This is storage requirements for hypervisor in RHEV:
Hosts require local storage to store configuration, logs, kernel dumps, and for use as swap space. The minimum storage requirements of Red Hat Virtualization Host are documented in this section. The storage requirements for Red Hat Enterprise Linux hosts vary based on the amount of disk space used by their existing configuration but are expected to be greater than those of Red Hat Virtualization Host.
Table 2.6. Red Hat Virtualization Host Minimum Storage Requirements
/ /home /tmp /boot /var /var/log /var/log/audit swap Minimum Total 6 GB 1 GB 1 GB 1 GB 15 GB 8 GB 2 GB 1 GB 32 GB
IMPORTANT
If you are also installing the RHV-M Virtual Appliance for self-hosted engine installation, the /var partition must be at least 60 GB.
You need 32GB of storage space for hypervisor and store swap and logs on flash-drive is realy bad idea