Based on the actual history of the WotAS, this is not a bad guess.Judging from previous campaigns it'll look like the Austrians are about to be defeated and then the Gallispan army will fall apart and it's gains will be reversed.
The OTL 1745 campaign involved the Austro-Sardinians getting righteously stomped on by Maillebois and Gages, who forced Carlo Emanuele to agree to an armistice and occupied nearly all of Austrian Italy. Then, thanks to brainless French diplomacy and awful Spanish strategy, they utterly squandered this victory. In early 1746 the Austrians threw their full might into Italy (as they had accepted peace with Prussia in late 1745) and Carlo Emanuele promptly stabbed the Bourbons in the back, causing the unprepared, divided, and over-extended Gallispan host to collapse so quickly that they were driven out of Italy entirely. As a consequence, Genoa fell virtually without a fight, and for the first time in the war the Pragmatic forces invaded Provence (although this offensive was not successful and the Bourbons eventually pushed back into Liguria).
The main differences ITTL are that the Gallispan army is marginally smaller (IOTL Gages brought around 20k men to Genoa, while Campo Santo is bringing 7-8k who are rather beat up), and that Maillebois and Gages are replaced by Belle-Isle and Campo Santo. The effect of the leadership change is uncertain: Gages was a good general while Campo Santo was a comparatively undistinguished figure, so the Spanish have probably lost something there, but Belle-Isle was a commander of great ability and skill. On balance, I would say that the odds still favor the Bourbons in 1745, those odds just aren't quite as good as IOTL.