Is it a good idea?
Depends whether you are relieving liquid or gas, and, as ZDAS04 says, how much / volumetric flow rate compared to the vent size of the tank and volume of the tank
If liquid then it might create turbulence, vapour and impinge on the side of the tank, but with the details you've provided (virtually none), it is very difficult to comment further.
Get it right - can be a good way of collecting whatever is coming out of the PSV.
Get it wrong - can be sudden and catastrophic failure of your water tank (think shrapnel and explosion)
Remember - More details = better answers
Also: If you get a response it's polite to respond to it.