Only if it's galvanized. Not sure if it is.
Plastic garden netting is cheap and easy to find. It comes in a large roll in Menards and you can stretch is tightly over a tank. Cut thin wall 1 inch PVC in in 1 inch sections and cut a slot in the section. Then use it as a clip to hold the plastic netting in place.
I would not allow any metal other than high quality stainless steel to be in contact with my fish water. Hardware cloth is very likely galvanized and should be avoided.
One of the metals in the galvanizing coating is zinc. I am sorry I don't remember what the other chemicals are involved in it. the zinc is able to dissolve out of the coating very easily when in contact with water.
I think it's more of a problem with acidic water vs. slightly basic. But not reason to take a chance of course.