Can the latest Final Cut open projects created in an earlier version?

Will the latest Final Cut -- 10.6.1 as of this writing -- be able to open projects created in Final Cut 10.4.2? I have not been able to update these projects because I've lost contact with the company whose Final Cut license I was on. ( I will purchase my own license once I get an M1 Macbook Pro running Monterey. For now, I will leave my old MB Pro on Mojave.)

Please assume there will not be any incompatible media, as everything in the older projects was shot on an iPhone XR.

Thank you in advance for your help.