Yes, as long as your game’s executable file (GTA5.exe) reports version 1.0.350.1 . To check: Right-click GTA5.exe > Properties > Details > Product Version.

For players who crave immersion, the config alters the ped density limits. This allows mods like "PopCycle" or "Real Traffic Density" to function correctly, filling the streets with lifelike crowds and traffic jams that would otherwise cause the game to crash due to AI memory starvation.

GTA 5 Gameconfig 1.0.350.1 Download Review: Is it Worth the Risk?