Will it work with my caching plugin?

The closed page is sent with no-store headers, so a well-behaved cache leaves it alone, and so are the real pages shown to anybody let through by the preview link, the password, their role or their IP address.

Switching the mode on or off, a switch-on time arriving, or changing which pages it covers empties NimbleCache, WP Rocket, WP Super Cache, W3 Total Cache, LiteSpeed Cache, WP Fastest Cache, SiteGround Speed Optimizer, Breeze, WP-Optimize and Cloudflare (through Cloudflare's own plugin) for you. The one to watch for is a CDN or a host's cache that ignores those headers — purge it by hand after switching, and the problem disappears.