No that's a bad idea, passive holes there will just create a short loop that robs more airflow flowing across the entire case.
Heat doesn't really rise enough to matter when you have active fan forced cooling.
It's also not all that easy to drill good looking holes in thin sheet metal with nothing behind it. You'd be better off cutting a square hole and slapping a fan filter panel over it if you must have a hole there.
The better thing to do would be move all drives in the 5.25" bays to the top or bottom and put the largest fan in above or below that stack that will fit, on a solid panel bracket up against the foam/filtered bay covers so it adds to air intake. The "solid panel" significance is it does not allow a loop, all air coming in the front bezel so no open area around it in the 5.25" bays... or if you just had a HDD up there and only wanted to cool it better, then solid panel wouldn't matter.
This assumes you already have a lower front bezel intake fan. If not, add that first, or really, do nothing if nothing is overheating. The entire front of the case is perforated so it's not really starving for airflow with a rear 120mm exhaust fan plus the one in the PSU, unless you have high heat from a gaming video card, and in that situation your best bet would be put a hole in the side panel with a 120mm intake fan pointed directly at the video card. I find that cheap black
vinyl automotive door edge trim works nicely to finish a DIY cut fan hole. It also comes in clear but you have a black case so...