Yes, when it was less than 30 days ago. Deleted users stay in a recycle state for 30 days.

1. Sign in to the Microsoft 365 admin center as a global admin.
2. Go to Users > Deleted users.
3. Select the user and click Restore user.
4. Set a password option and finish. Then assign the license again if needed.

The mailbox and OneDrive come back with the account in most cases. After the 30 days are over the account and mailbox are gone for good, unless you have a separate backup or a retention policy. So act quickly and check that the user can sign in.