I have the traditional Ideal Tire Groover, the one in your picture sure looks light duty compared to it. It takes a lot of heat and pressure to get through the rubber on R4 tires, that just doesn't look like it will "cut" it, pun intended.
A member here let me borrow his Van Alstine V100 tire groover and I can't imagine that a significantly better tool exists. I remember watching a YouTube video from GoodWorksTractors in which Courtney grooved tires and he made it look a lot harder and way more work than I experienced.
I don't know how the knives look for that Venom HP, but it doesn't look like it'd be easy to use, and it might not work that well.
I made a comment a few weeks ago about eventually siping the R4 tires on the MX once I got around to buying a siping tool. A member sent me a PM offering to mail me his very expensive siping tool since it just sits on the shelf. Within a few days it showed up in my mail box. I'll mention his...
I don't have any point of reference since I've only ever used one tool to groove tires, but it's cold here too, and was cold when I grooved the R4 tires on the MX, but it was still surprisingly easy.
Many years ago in my past life as a diver/welder we had a job to replace massive tires on a concrete dock for ships to tie up against. I had to cut 5" or so round holes in numerous massive tires from quarry sized machinery. The holes were for chains to pass through. I remember using a hole saw and lots of cutting oil for many days and it was brutal.