Material Design – label to the left of underline input field?

We use the Material Design underline text fields with floating labels in our application (see right on the picture).

This works well on mobile, but for long forms on a desktop a label to the left of the field would be more beneficial (see left on the picture). Scanning would be easier especially in cases where the fields are already filled out. It would also require less vertical space making the form less long.

My question now is, is this a conventional user-friendly pattern? Or are the underline fields for some reason not to be used with left labels (I couldn't find it anywhere)?

Thanks for your input.