You can use...
The question should realy stay open whether you will benefit or not.
Firstly, the phono cable is expencive and has some parameters you realy don't need to count for CD-player. The thin gauge of phono cable is to minimize reactance that realy matters on such small signal levels while on CD-player having 2V output it realy doesn't matter.
It's like using a bazooka to kill a fly instead of simple newspaper or fly-slapper.