If the dildo is structurally sound -so mostlikly metal too - it will reduce the fall length otherwise it wont matter. You have to understand that it would be like you standing on a dildo that is inserted into someone with you full body weight and i cant state enough how much damage that would cause. I cant think of a kink with a higher risk potential beside wrongly done choking.
If you want to mitigate this slightly you would need to have a T bar that handels the weight
Well going by the title ... i mean technically that is possible with all monitors