Does the plugin work with WP Rocket?

Yes!
Go to Excluded JavaScript files text area, under the Delay JavaScript execution feature add this:

/jquery-?[0-9.](.*)(.min|.slim|.slim.min)?.js
/jquery-migrate(.min)?.js
/tp-woocommerce-product-gallery/public/js/tpslick.js
/tp-woocommerce-product-gallery/public/js/lity.min.js
/tp-woocommerce-product-gallery/public/js/jquery.zoom.min.js
/tp-woocommerce-product-gallery/public/js/jquery.mousewheel.min.js
/tp-woocommerce-product-gallery/public/js/lightgallery-all.min.js
/tp-woocommerce-product-gallery/public/js/woocommerce-product-gallery-public.js
tpslick

If used with Avada, the following needs to be excluded as well:

/uploads/fusion-scripts/(.*).js