The answer is yes - but it would be a good idea to make a complete, tested image of Windows 11 (or replace the drive and keep the original), since Dell will insist on the factory installed OS being reinstalled before any warranty support is rendered.  
I recently bought an Inspiron 15 3511 which came with a licensed Windows 11. I personally don't like Windows 11 and I want to install Windows 10. If I do this, can I activate the new Windows 10 with the same digital license? If so, will just being online take care of it?
Using Windows 11 License with Windows 10