Pathway to PR under CEC with 1 year PGWP

So my doubt is – is it possible to submit my PR application on 5th June 2019 and apply for work permit on 6th June 2019?

No, you need to meet the 1 year eligibility requirement at the time you receive the ITA. There’s no way you could ensure you get the ITA on June 5th, let alone submit a complete application, receive the AOR, and apply online for the BOWP within 24 hours…

Please let me know of any hazards that I may face by doing so.

Besides stress and insanity? : ) If you are refused, you will have wasted money and several months, and have to start over again…