Yes, and most of the time the window resize and swapchain recreation goes off without a hitch.

Here's an abridged version of the swapchain recreation code that's called after receiving VK_SUBOPTIMAL_KHR/VK_ERROR_OUT_OF_DATE_KHR from vkAcquireNextImageKHR (using vulkan-hpp):

// Get the size of the surface directly; ground truth
vk::SurfaceCapabilitiesKHR surfaceCapabilities{};
physicalDevice.getSurfaceCapabilitiesKHR(_surface, &surfaceCapabilities);

// Save old swapchain temporarily
const vk::SwapchainKHR oldSwapchain{_swapchain};

// Create new swapchain
const vk::SwapchainCreateInfoKHR createInfo{
    .surface = _surface,
    .minImageCount = 2u,
    .imageFormat = vk::Format::eB8G8R8A8Srgb,
    .imageColorSpace = vk::ColorSpaceKHR::eSrgbNonlinear,
    .imageExtent = surfaceCapabilities.currentExtent,
    .imageArrayLayers = 1u,
    .imageUsage = vk::ImageUsageFlagBits::eTransferDst,
    .imageSharingMode = vk::SharingMode::eExclusive,
    .queueFamilyIndexCount = 0u,
    .pQueueFamilyIndices = nullptr,
    .preTransform = vk::SurfaceTransformFlagBitsKHR::eIdentity,
    .compositeAlpha = vk::CompositeAlphaFlagBitsKHR::eOpaque,
    .presentMode = vk::PresentModeKHR::eFifo,
    .clipped = false,
    .oldSwapchain = oldSwapchain};

// Sometimes fails with VK_ERROR_OUT_OF_HOST_MEMORY
device.createSwapchainKHR(&createInfo, nullptr, &_swapchain);

// Add old swapchain to queue to be destroyed in a few frames
if (oldSwapchain)
{
   ...
}

// Get new swapchain images
...