I have solid clay soil and made many holes, I don't see why you couldn't, I dig my holes at a very low RPM to me HP is not a factor and I don't see why it would be. If its wet you need to lift it every so often if not the bit get suck there then you are in a pickle, you need to disconnect the PTO shaft and get a pipe wrench and turn it the opposite direction or hand shovel it out. If its dry it is very slow and I needed to apply weight to it for it to go down, the clay came out in small chips just chewing at it. More HP doesn't apply more weight, the only thing Hp will do is make your tractor heavier so yo have more lift capacity to lift the auger full of dirt ... lots of folk do their holes with a two man auger not many HP there, it’s a nasty job but people do it.
To me the worse thing that can happen is you will stall the tractor but just go slow.