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Yes, with a one-way upgrade. Open your 4.12 project in UE 5.0, and it will automatically convert assets. However, you cannot go back to 4.12 after saving in UE5.
Because 4.12 is an older build, it is than modern UE5. However, you still need a capable machine. Unreal Engine 4.12 Download
If you need to modify the engine's "under the hood" code or are working on a Linux build: Link your Epic Games account to your . Navigate to the EpicGames/UnrealEngine repository. Click the Releases tab or the Branch dropdown. Search for the 4.12 tag. Yes, with a one-way upgrade
Sequencer: The debut of the non-linear cinematic editor, replacing the older Matinee tool. it is than modern UE5. However