Power Path Controlling with GPIO and MOSFET
It will work. The drain current of 2N7002 at 3V is still around 0.1A... which is ok with the 10K resistor (needing only 1.2mA). But neither turn-on nor turn-off will be very fast. A somewhat marginal design. I'd do a Monte Carlo simulation on it if it were for series production.

You can get high-side switches all in one package these days, if that's what you're looking for. "better ways" depends what you mean by better. More protection for the switch? Cheaper? etc. This was covered to a fair extent in a related question: Switch (Relatively) High Voltage from Logic Level (It's not the same application [different voltages], so I won't call it a duplicate).