There is no specific problem, but the entry into Egypt on the Sinai peninsula, be it through the Elat-Taba border, be it through the Aqaba-Nuweiba ferry, has been off limits for some time now for 4WD vehicles due to perceived security issues on the Egyptian side. 2WD are OK.
Most probably you will be obliged to join a convoy if you want to directly cross the Sinai from Taba. It might still be possible to go on your own if you follow the coast road to Nuweiba, Dahab and Sharm before going up North on the Western side of the peninsula towards Suez.
Best,
Achim
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