I think it would depend on the fabric. If it’s bulky, it might be quite visible. If it’s not too heavy, I’d say it could be fine. I’ve used tape before with no problem. I usually just take them to the dry cleaners these days and get them to hem them for me.

(Whew! I saw this and worried you were planning to wrap it around your waist.)
The tape is great for a quick fix.
I would tape, then stitch. The tape would hold the fabric in place while you stitch it for a permanent fix.

I would take the hem out and turn up the fabric to the right length so that it is just one layer. @Earthbound_Misfit is right I think saying it might be too bulky. I think no matter what the fabric, it would be too bulky.

How you fix it is another matter. Hem tape is fine but I’m not sure it withstands lots of washing. I’d sew it. well actually I would plan to sew it and then leave it by my sewing kit for years…

I sew a fair amount, I’m short, and I HATE hemming. I do what @Earthbound_Misfit and @Stinley do. Either go to the dry cleaner who does alterations, or have good intentions that are never fulfilled.
Tape is OK as an insta-fix, but I, personally, don’t like it for more than that.

I tried staples once. Classy.~~

I too have stapled…

Hem tape might be just fine as a stop-gap depending on how often you plan to wear them. It may also give you a bit of flexibility if you’d like to wear them with heels from time-to-time; allowing you to let them down for some more length. However, most dry cleaners are happy to do a hem for $10-ish.