Yes. I have consistently updated my P3P during the nine months I've had it, and have rarely had any problems, and not one bad flight.
However, be prepared for many people here to chime in and say no for 100 assorted reasons. Occasionally, as with any new software or operating system, when DJI fixes some bugs, others creep in. But they've been good about fixing those, too. And then, separately, there's the issue (for many) about geofencing. We'll let them tell you.
I'm a very-happy camper! I fly mine for photos, not distance or height. And I usually ask permission in public or semi-public places. So everything always works out well.