I live in Oklahoma. If I have a child that I am raising for someone else can that child live with me if my fiancé is a convicted felon?

Depends on what he was convicted for his probation status and the terms of your guardianship.

Unless you have adopted the child, the parents can revoke whatever guardianship agreement exists (Note: if a court has not granted you legal guardianship, you have no rights to the child at all).

Depending on the nature of his crime and probation status he might be prohibited or someone could report this to family services and they may step in.

So you really haven't given us enough info to provide an answer.