The easy answer is YES.
But please keep in mind, if a team attempts to change categories upward or significantly increase the project's complexity/challenges, the review committee may raise sufficient concerns that could lead to being dropped.
If a team returns with the same project, there should not be any concerns which have not already been addressed during the application review process for 2020. The team would simply copy their information from the 2020 application to the 2021 application.
The 2021 Cup application will have additional fields and requirements for data which are in development now.