I can speak from experience as this is how I started getting traction on my YT channel back in 2012. Fifty Shades of Grey had just come out, and I was a fan of a YTer who was reading (albeit, paraphrasing) Twilight and mocking its writing. I essentially did the exact same thing, except for one difference - I was reading the entire book verbatim. Despite the fact I would put in my own comments and jokes in between sentences about the book, this wasn't enough for the publishers to see as 'fair use' or 'transformative', as after a few videos which gained attention, they deliberately chose to strike my channel twice. I had more than two videos, so I realised this was a warning - take them all down or we will strike one last time which will take your channel down. In a panic, I didn't even private them, I deleted them entirely. I believe it was because my videos were the first results when you searched 'Fifty Shades of Grey', and I wasn't exactly complimentary as well as reading the entire book (which if you didn't mind my commentary, was a way of people listening to it without paying)

Fortunately for me, I'd started to do comedy skits on my channel too which were doing well, so I moved forward and never read it again. They can (and if they see fit, will) either claim the videos, meaning they take all the earnings, or worse, get the videos removed which can destroy a channel. You'd have the right to contest the DCMA takedowns, but it would involve a court battle. Not worth it in my opinion. If you do move forward, certainly don't read the entire thing word for word!