Bidirectional gpio optoisolation

over the years i have used optoisolators to control large voltages and read large voltages into microprocessors , however now i have gotten to a project where i cant designate the pi input or output 100% of the time. so i am looking to see if anyone knows how i could isolate a signal that can be either an input or an output on a voltage range from 5v to 48v into a 3v3 processor.

i have simulated this it seems to work any viable objections?

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