It's not just "safe", it's the default configuration for basically all Ryzen motherboards. The problem isn't whether or not it's safe, the problem is that with it enabled, if you lack sufficient cooling, you'll probably have WORSE performance than with it disabled. If you run the stock cooler on ANY Ryzen platform, I would highly recommend DISABLING PBO or PBO2.
XFR2, the default AMD boost profile however can be left enabled with the stock cooler, but even so, without better cooling it will STILL probably have issues. The Wraith coolers, all of them, just are not good enough for the CPUs they are paired with. If they moved each cooler down a tier and required the higher core count CPUs to have aftermarket cooling, then it MIGHT be passable, but they are not going to do that so it's pointless to even discuss.
With that cooler, or any of these, you should be good to go for full PBO boost or decent manual overclocking.
Noctua NH-D14 (Replace stock fans with NF-A14 industrialPPC 2000rpm)
Noctua NH-D15/D15 SE-AM4
Noctua NH-D14 (With original fans)
Thermalright Silver arrow IB-E Extreme
Cryorig R1 Ultimate or Universal
Thermalright Legrand Macho RT
Phanteks PH-TC14PE (BK,BL, OR or RD)
Thermalright Macho X2
Deepcool Assassin III
Thermalright Macho rev. C
Thermalright Macho rev.B
Thermalright ARO-M14G (Ryzen only)
Thermalright Macho direct
SilentiumPC Fortis 3 HE1425
Deepcool Assassin II
Be Quiet Dark rock Pro 4