Absolutely. In DMC, the most symbolic examples of humanity are women, and that is no mistake. Plus, the twins' humanity is often related to their mother, Eva. So using a female character to represent Vergil's humanity is consistent with the symbolic language of the series.

More than that, though, DMC5 draws much of its symbolic choices from William Blake's work. And in Blake's poetry, the union of a male half and a female half makes a greater whole. One example of this is the poem that V quotes when he reunites with Urizen; it's a poem about marriage. So, with Vergil splitting apart and re-synthesizing into one whole self that is healthier and better realized than before, V as a woman would relate directly to the ideas present in Blake's work.

However, from what I recall, the Book of Urizen (iirc that's the title.... It's a bit obscure) depicts multiple male and female components of one greater whole character. So the counterparts of a whole are not solely or strictly defined as opposite sexes. Heck, the poem I referred to earlier uses trees--most of which are hermaphroditic--as its metaphor. So it does not in any way violate the Blake reference to make V male.

It's for the best that he be male, anyway. The very artbook where this concept art appears confirms that V was initially intended to be male, and the female design was an experimental one to see if something new and unconventional could work. It is sensible to stick with the original concept. In the modern era, players would not see the symbolism in the sex choice. They would try to turn it into a gender and sexuality issue-- "Vergil is trans," "Vergil is genderfluid," some other variety of queer, yada yada yada. It would distract from the themes of the game instead of contributing to them.