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I passed level I&II with about 3 months of preparation time on the first go around; probably not with great margin of safety but nevertheless. waited 7 yrs to do my level III and tried the same thing but didn't pass, band 10; so it's pretty close. So i would say you should be fine.

ALso, if I remember GMAT correctly from 11 yrs ago, not much you can really study, more of just practice and getting used to the problems; math was easy. so I don't think those two are mutually exclusive. You can do one then other or why not do two concurrently? use GMAT practice as a break for CFA study....good luck.

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