I assume that you've got the self-locking, ie threaded, props for the P1? Otherwise you'll need some suitable locking nuts too...
If so give them (or it) a spin and the circuitry and ESC's will probably handle it, will make any necessary adjustments and it'll fly quite OK. But with significantly smaller props you might be lacking lift. I sometimes mix both motors (within reason) and props (within reason) on my racing drones with no problems if I'm lacking an exact match.
Not a Phantom, but see here:-
On the other hand, maybe you don't want to take any risks?.... In which case, order some new and correct props and wait until they arrive.
Your choice, of course...