In my experience, no.
Since upgrading to Tahoe, iMovie became more or less unusable for me. It would open fine, but loading old projects would take an inordinate length of time (10s of minutes, if you're prepared to wait), if they would ever finish loading at all.
I really wish I hadn't upgraded, but I did and there's no option to go back without losing data.
In the end it was so bad (not just iMovie, but other random hard crashes in macos - a couple per day) that I ended up nuking the entire system and rebuilding from zero.
This was my experience only, a couple of weeks ago 26.3+ , Macbook Pro M1 Pro. You might be fine :)