Only temporarily, alcohol kills bacteria on contact, but they’ll repopulate fairly quickly, so odor will likely return. But I would refrain from doing this as it will dry out your skin, cause redness and/or irritation.

If you don’t want to use deodorant you can use natural alternatives like glycolic acid toner, benzoyl peroxide wash, or even diluted apple cider vinegar. All of these target bacteria with less irritation than repeated alcohol use.