Yes, but if the shots are taken with some care, you'll likely get better results doing it all in one go. I recently did one from 6 x 6 frames, thus keeping the original aspect ratio of the camera.
Always enable the lens profile in ACR/Lightroom. This corrects geometric distortion in individual frames. This is very important.
Make sure you have sound and solid overlap, that excludes moving clouds or water. Ideally you should have a focusing rail to eliminate parallax error (by pulling the camera body back so it rotates around the optical center of the lens).
It very often pays to pick a base image that the others align to. Put this at the bottom of the stack. Don't use Photomerge - use Auto-Align, nudge if needed, then Auto-Blend.