Current, voltage and crosstalk requirements would be you only concern. Possible solution.
I'm putting together a pendant control for a CNC machine, and need about 14 conductors. I can get inexpensive HDMI female screw terminal breakout boards and a 6' HDMI cable would be perfect form for this application. The wires are for x/y/z axis selection, movement resolution (x1, x10, x100) and a manual pulse generator encoder with +5v,0v A and B. I'd use 24ga wires from the breakout board to the controller connector. Any reason this will not work? are there any electronics in the connectors?
Current, voltage and crosstalk requirements would be you only concern. Possible solution.
If the HDMI wiring can handle the voltage and amperage load then I don't see why it wouldn't work. You should figure out what are the HDMI cable wiring limitations and see if they are good enough for your CNC setup.
This problem happen if HDMI is not compatible with voltage. you should use correct power of HDMI cable which can handle voltage.