This. The key to anything like this is to go out of your way to be extra safe.

There are no pedestrians on the quarter mile where I do this 99% of the time. But about once a year someone is randomly walking on that sidewalk through an industrial park.

When that happens I slow to a walking pace if I am behind them or stop entirely if they are coming towards me until they pass.

There is plenty of visibility to see a pedestrian well in advance.

I adjust my riding to compensate for the once per year pedestrian.

It's not unsafe for anyone involved.

There is a police station about a mile down the road from here so cops pass me doing this every other day. None have ever cared.

The FAR FAR FAR more dangerous option would be to cross the busy road twice and ride in traffic in the 50mph zone (no shoulder or sidewalk on the other side). More dangerous fro me. More dangerous for cars trying to avoid me.