OSB has taken the place of plywood in many applications. The number one being roof decking. OSB is fine to use for shop cabinetry.
After all, for most of us, our shop cabinetry is not furniture.
1/2" OSB is not as strong as a good 1/2" plywood. But it's very sufficient for the side of a cabinet. For shelving, it will need support.
You said you're using 2x4's for support, so that will make it strong. Using OSB for your drawer side will require fasteners with your glue.
Like 1 1/2" finish nails or finish staples.
If you don't have time to do it right the first time, when will you have time to do it over?