Arts team

An arts team is meant to spam NP meaning that not only cards, but also NP should be arts. Why? What if you had two arts cards on your hand of two different servants, but not your third? And your third has an NP of arts? It will charge their NP.
This is the fundamentals of arts teams you could run this, but it will be slightly harder to charge NP and pairing up two classes meant to make up stars isn't advised as there would be less chance to crit for each one of them. Ozy doesn't really benefit Artoria other than the NP charge and attack, buff, but in an arts team? No. It's not advised.
This is my opinion.

Ozy works best in buster crit with waver. Nero is another servant that works well with Ozy despite being arts heavy due to the rng if imperial privilege. In general though, can't go wrong with a team of waver, Ozy and a star gen with Ozy equipping Victor of the moon and waver with a fragment of 2030

As a second damage dealer? Sure. Just note that the two of them would be competing for stars. A better 2nd dps pick I think would be someone with an arts np. So like Emiya Assassin. He's still a dps, but he also still compliments Archuria by providing stars, helping with arts chains, and his NP decreases enemy NP charge to compliment Archurias own charge decrease.

You seem to not fully understand the meaning of 'Arts team'.
The core idea of this is: "get as much NP-gauge every turn as possible in order to spam NP". That means sum of arts cards (including NP-cards) should be more than half of all cards. Each turn you concentrate on making art-chains and getting as much gauge as possible instead of dealing more damage. In ideal you should use NP of a single character with delay of 0-2 turns.
If some characters with different card's/NP color can be tolerable in Buster or Quick metas, in Arts-team character MUST have at least 2 arts cars and arts-NP in order to do it's trick. So the answer is 'no', Ozimandias is a Buster character and will not work much well with archer Artoria and Waver.
You should try put Tamamo in this team instead :3

In my opinion, there are mainly six art teams existed:
(1) Normal art team, Orion/Vlad/Nero etc + Tamamo + Waver
(2) Hitter's NP spam only, Archuria/Surfer Mo + dual Tamamo
(3) Art critical, Saberlot/Alice + Waver/Andersen + Tamamo.
(4) Merlin's mixed Art/Buster critical.
(5) Three Casters
(6) Jeanne's turtle team

Sorry to say that, but I don't really understand why you put Ozy in a so-called art team. First of all, archer and rider are rarely recommend to team up because their star adsorption are quite close, except when they have >500% star adsorption skill. Second, art team's most predominant point is to use 3 art cards (normal + NP) to charge NP gauge every turn.
Ozy worked in the 4th art team with Merlin in the near future. But I don't even considered it is an "art team" and has any close relationship like the rest 1-3.
If you want to say "I want Archuria's 1st skill worked more efficient", well Kiritsugu is better.

Yeah, sorry to say OP but Ozy isn't an arts servant, he's buster-crit DPS + secondary support. Also wouldn't recommend putting Artoria and Ozy together, they tend to steal stars from one another. Not that this team is bad or anything, any team with good servants in it is basically good by default, but it is pretty inefficient. It'll get you through most things in the game, just maybe not the hardest boss fights.