BTW, you can't tether the iPhone to another mobile device to defeat the wifi restriction (however, some might point out that you could perhaps use tethering to download the package to a Mac - maybe a PC, not sure - and use iTunes to update the device, though I've never tried it). If you could, my point wouldn't be at all valid, but you can't.
Yes you can. I’ve tethered my T-Mobile personal phone to my work issued Verizon phone to do iOS updates many times.