I have no experience with cats, but I used one with a couple of dogs.
It would not stop a determined dog in a chase, but she would not then
return across the fence so I had to remove her collar and bring her
through the house.  Also, a couple of times, the same one got caught
between the fence and an overgrown clump of trees and brush she
couldn't retreat through - she just hunkered down and suffered until I
removed her collar and dragged her back into the open.

I don't think I'd put a heavy, sturdy, expensive collar on an outside
cat in the hope it would keep the cat behind the fence without being
lost or trapping the cat on a bush stem or something.

I solved the problem of traffic by moving to the countryside - far
enough from the road and with more attractive terrain in the opposite
direction that it really isn't an issue.  Before that, I had to keep
fewer cats, and keep them inside except when I was out with them.

It's a terrible idea.  The cat will try to get rid of that collar and
think about nothing else.  Kitty will not associate the evil collar
with boundary lines, but might associate it with you and pee on your
bed to retaliate, or run away at the first chance never to return.