Selecting suggestions from the address bar is possible using Emacs-style shortcuts (i.e. ctrl-n and ctrl-p), but not with the more accessible J and K keys commonly associated with Vim bindings.
I'd love to be able to move up and down the list of suggestions with ctrl-j and ctrl-k.
Not many browsers support Vim-style keys to select UI elements. This is a very dev-focussed feature, but then so are the Emacs-style beginning and end-of-line bindings we're used to elsewhere on macOS.