YES and NO,

If not done properly, you could lose all of your settings and plugins for each track...
The safest way to make the switch is to go to
the AUDIO > AUDIO CONFIGURATION > and go to the EDIT menu and choose COPY ...
this will copy all the current parameters in the current driver to the NEW driver by going to
DEVICE > and choose DIRECT I/O.... then going back to EDIT and hitting PASTE -
it will prompt you by telling you that you are about to copy over all of your parameters to the new DRIVER
Once this is complete - all of your parameters and plugins are safely converted to that driver...
You will then want to change each track itself to the DIO driver