Yes. This is what I did.
1. Most important: all four RAM sticks must be the same size (in your case, 16GB)
2. Preferably: all four RAM sticks are identical (brand, chips, and part #). Having them all identical ensures there is no question that they will perform optimally.
If they are not identical (the 2020 iMac is very picky about this), it is still OK, but you need to install them in order A-A-B-B. I personally, and others, have confirmed this retains full RAM speed and dual channel.
But the most important thing is that they must all be the same size (if not, RAM performance is degraded).