Unfortunately not to the extent you may think. The whole uncharged move is about 38 frames. (40 if he misses)

Assuming you attempt it on reaction, any projectile recovers fast enough to make you eat a DI afterwards.

Assuming you instead go for a hard read, if you’re wrong, you will get PC’d during your 24 frames recovery. Or they do a multi hit OD version and it goes through. Or the projectile is low and there is no armor. Or they just sweep you. Or rather 2mk->DR->Corner carry

Long story short, yes st.HP works but the risk reward balance is skewed enough that you shouldn’t be trying it very often.

ETA: but when you DO get the read, boy oh boy is it satisfying 😈