Yes. Jellyfin will index the media files and push all the metadata along with the file paths on the network share they both can see to the local kodi database. That way browsing the library on kodi does not suffer any additional latency, but you also lose some advanced jellyfin functionality like on the fly re-encoding.
First time I’ve bought a burger in the school cafeteria, I considered just throwing it out after the first bite. 15 years later I still sometimes crave the cheap patty and gummy bun with ketchup… and pieces of raw cabbage.