Yes. I have a second wheelset with road tires for my gravel bike, and I keep up with the weekly A group ride just fine.
I happen to know that the recent world record winner in the individual men's pursuit rides his Specialized Crux in road races when he's not racing track, and usually tears everyone's legs off doing it. (He also tore everyone's legs off at a local crit a few years ago on a C&V bike with downtube shifters just because he wanted to.)