Yes, but with caveats.
The update works as intended—no new crashes. However, PS5 users have noted that the game still runs at 30 FPS (no next-gen patch). The update did not introduce 60 FPS mode.

Cause: Corrupted Vulkan shader cache or mod conflict. Fix:

Update 131123 (deployed as client build 149150) represents a significant, albeit non-feature, maintenance patch for Red Dead Redemption 2. Contrary to player speculation regarding new content or next-gen enhancements, forensic analysis of the build and official telemetry indicates that this update focuses exclusively on backend stability, anti-exploit hardening, and Rockstar Social Club integration synchronization.

The work performed in this build successfully addresses three critical memory leak conditions present since the "Blood Money" update (July 2021) and introduces a proactive patch for a Remote Code Execution (RCE) vulnerability identified in the peer-to-peer networking stack used during Red Dead Online sessions.

If you use Script Hook RDR2 or LML (Lenny's Mod Loader), the game will crash immediately after this update because the mods are outdated.

Rockstar rarely provides detailed patch notes for post-lifecycle updates this small, but community reverse-engineering and official support threads have identified the following changes for Update 131123 (Build 149150) :

The core question. The answer is heavily platform-dependent.