If you look at thr Flux Characteristics on HLG's site, you'll see the bottom row says at 49.86 volts, the board will draw 2.8 amps. If you multiply them you'll get 139.6 watts. Two boards at 49.86 volts, and the driver will output 5.6 amps for 279.2 watts. All those specs are within the HLG-320H-54 specs. They are within specs of the HLG-320H-48 too, except the voltage. By turning the voltage higher than 48 volts, you are effectively lowering the max current from 6.7 amps to approximately 6.45 amps (48v x 2.8a = 321.6 watts. divide that by 49.86 volts = 6.45a), which is more than the 5.6 amps the boards will draw. Since the driver is capable of going up to 49.86 volts, theoretically it will work.
That said, I personally wouldn't run the driver more than 75% to 80% of max, which is about 250 watts, because your outside of the specs. I don't see any reason it couldn't go higher, though.
TLDR - I think it will work.