Yes, it is compatible with Breeze and most of the known plugins in the market. However, if you are already using the free Cloudflare CDN, you should deactivate proxy mode to disable it. If you are using any other CDN, you will need to deactivate it from Breeze settings.
It is not mandatory to deactivate any other security plugins. Cloudflare Enterprise intelligently identifies & blocks attackers and emerging threats at the edge before they reach your server. This allows you to deactivate related security plugins if you want to save some bandwidth and money per month.