I tried to do this with keepass and google drive and one day found a 0byte keepass file. No idea what happened... luckily google drive had an auto backup from a while ago somehow. it was tedious to set up in the first place and any new device will need some setup again
A similar thing happened to me, but one day my keepass file was corrupted instead of 0 bytes. Quickly switched to 1Password after that.
FWIW, I currently do this with Dropbox without much issue. The only thing I've run into is "$USER's conflicted copy YYYY-MM-DD" or whatever it says but that is redundancy rather than loss so it's not much of a worry. I have still lost some passwords that I intended to save due to such a conflict but they were fortunately easy to reset; I would likely have been able to check the conflict files as well for the password if I really needed to.