Magura rim caliper and Shimano hydraulic road lever compatibility
Yes but not optimal/recomended.
Technically, the lever will push the caliper pistons, but Magura's disc levers, such as the MT5, push a different amount of fluid than their rim brake levers, such as HS11. And the shimano levers have a more similar push to the Magura disc levers. So it won't be optimal.
In trials riding, they say you shouldn't mix disc levers with the rim calipers as there is a large chance for the brake to fail (even if it's a momentary minimal slip) when you need them the most.
In normal, non action sport, conditions it will probably be ok. It just won't feel as good as matching the road levers to the disc caliper.
If you choose this method, (same goes for the MT5 caliper) make sure that you choose the correct fittings for each end, otherwise you risk fluid leaking and no more braking.
As a little side note, Magura did release drop levers for rim brakes called HS66.