Basically yes, with the disclaimer that thin provisioning may not succeed (see my above post)
If you decide to go that way, it is worth taking more details into consideration - like what is the expected increase in data on that volume compared to the free space on the datastore along with the expected increase in other overcommited VMs. If, for example your database grows automatically and there is very little free space on the datastore, you might have an unpleasant experience at a point in time after a successful conversion.