Absolutely yes, especially if you use a GPU with a recent video encoder.
I have all my PCs connected to each other via Moonlight+Sunshine and the latency on the local network is unnoticeable. I code on my Linux workstation from my laptop, play games on the gaming PC from my workstation, etcetera and it is all basically perfect.
Thank you! When you say GPU with a recent video encoder, do you mean them separately (i.e. don't use software/cpu streaming; and use an efficient encoder), or do you mean use a GPU that supports recent encoders? I'm afraid my Intel HD 520 isn't particularly new and likely doesn't support modern encoders.
A GPU with a dedicated encoder for x264 or preferably x265/AV1. You can do without it, but you'll spend a core or two on software encoding and the overhead will add a few tens of ms of lag.
With full hardware capture and encode (default on windows, can require tweaking on Linux ) it's virtually free resource-wise.
I have all my PCs connected to each other via Moonlight+Sunshine and the latency on the local network is unnoticeable. I code on my Linux workstation from my laptop, play games on the gaming PC from my workstation, etcetera and it is all basically perfect.