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Thank you for your question.
I am sorry but the answer is No.
A license plate can only legally be displayed on the vehicle it was issued for.
Expired plates are supposed to be disposed of or returned to DMV, see
"A registration plate is illegally displayed for purposes of this section if the plate:
(a)Is displayed on a vehicle other than the vehicle for which the plate was issued;"
I am sorry this is probably not the answer you had hoped for, but it would be unfair to you, and unprofessional of me, not to provide accurate information.
I hope this information is helpful.
You would not be breaking any Oregon law by mounting a foreign plate onto a bicycle.