Arcing is just about impossible. However the fuse and/or circuit breaker is most likely rated for less than 200 volts. Under rated circuit breakers and fuses may not disconnect higher voltages than their rating. OP will likely have no issues until an over current happens. The it will be a gamble of it may safe-fully disconnect or may catch fire. Voltage and Amp ratings are for both normal situations and what happens when things go bad. It may go very bad with wrong ratings.