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Patrick, Hyper velocity will fire fine but, the accuracy trade off is not worth it. The pistol length barrels will group much better with standard velocity 22lr ammunition. Hyper velocity does better in rifle or carbine length barrels.
Standard velocity ammo will produce the best accuracy, but the pistol will handle hyper velocity just fine.
Patrick, I have shot several thousand rounds of high velocity 22LR ammo of different brands thru the Ruger Mk IV, SR22 and S&W Victory. Here is my take on them. All three guns handle the HV ammo well and I've found the that the action (eject/reload functions) tend to work a little better (less malfunctions) than with standard velocity rounds. As to accuracy, I tend to shoot a little higher and to the left with the higher velocity ammo. I can correct for the higher elevation, but seem to have a harder time bringing the impact point farther to the right. It may be a rifling vs. velocity issue? I have found that out of all the brands that I've tried, I like the Browning high velocity (about 1400 fps) 40gr bullets. I don't know who makes them for Browning but they function perfectly in all three 22s. I never had a malfunction with them and they tend to burn a little cleaner than the others. I also have a GSG Firefly 22 lr pistol and unfortunately nothing seems to work well in that one. It
You have to try different types of ammunition to see what your firearm likes best. It's a lot of trial and error.