Can I install a rack if I install plugin mudguards?
I doubt that will work. If you are going to install the mudguard between rack and tire the “arm” of the SKS X-Blade mudguard is likely to collide with the two stays of the rack. There is a chance that you are lucky and the spacing is just right to fit it through.

If you are going to install mudguards, why not get some proper ones like the SKS Bluemels?

As a sidenote: Why get such a heavy and ugly rack for such a nice and relatively light bike? Something like the Tubus Fly (Vega if you need more tire clearance) would fit much more nicely.