Partially yes, but there’s a little more to it than that. From my understanding, Substance Painter/Designer their rendering system for PBR is slightly different in how it calculates the lighting samples than UE4 is, so it usually doesn’t end up being a perfect transition from SD/SP to UE4. However, there’s a guy who made a UE4 specific shader for Painter, I haven’t tried to use it with SD yet, though. However, I’ve gotten much better end results using it.
Here’s the link to his shader: How about PBR?: Substance Painter Shader - Unreal Engine 4(update)