I2C bus with different voltages slaves
Yes, this is often done.
A common approach looks like this:



simulate this circuit &ndash; Schematic created using CircuitLab
You need to make sure to use a logic level N-channel MOSFET that will be fully on @ 3.3 V.
Note that you will need two of these circuits, one each for SCL and SDA.
The resistors may need to be adjusted depending on speed and number of slaves.
Another solution would be to use a dedicated I2C level shifting IC like a TXS0108.