No issues that I'm aware of. The section modulus tables for trapeze hangers in NFPA 13 are developed on the assumption that the concentrated load occurs mid-span of the trapeze member. The point load would be at the top of the trapeze member regardless of whether it was a split ring or nut/washer supporting a hanger below, or a piece of pipe sitting on top of the trapeze member. I would probably lean towards angle iron or unistrut in that situation, as it would be quite a bit easier to secure the branch line piping.