Hundreds if not thousands of people have cut frame at that point.
For majority it isn't a problem, however, it's never a good idea to modify a frame which can allow the left and right sides to move independently.
I would weld something back in to tie both sides together. (if I even cut the section out)
Even if you don't corner particularly hard, the next owner might
If you think it's a bad idea, it is.
The fact your asking means you don't know enough to just go ahead (which is a good thing, at least you have a concern about your own safety 8) )
Before you weld a new piece in, measure shock compressed length and make a strut, couple of people have welded in flat plate and found tyre want's to be in the same place as plate.
BTW, the shape if the original plate makes it act as though it is 3~4 times thicker without the weight of a solid piece