Yeah, but I'm pretty sure the Dex Drive software will not recognize the serial port (or the drive attached to it) on one of those USB ports running in a Win XP or higher environment.
If memory serves, not many of the Win 98 serial port transfer devices like Dex Drive, Bung GB Flash Cart Loader, etc. made the jump to the way Win XP deals with data transfer through serial ports and nobody ever patched the existing software or made new software for those devices that worked.
This is a great option for "storing" PS1 saves if you have a PS2 with some space on a PS2 memory card.