absolutely, what I do every time
also I never use a piston stop, just leave the sparkplug in and zip the flywheel nut off with an impact driver, clutch could be done the same way also, with low compression I would certainly hold the flywheel with a rag during this process, coil off already
clutch off, then flywheel, need the flywheel on to get the clutch off without a piston stop
edit, realistically, you can just hold the saw by the top handle and whack the nut to knock the flywheel loose, or leave the saw loosely sitting on the bench, as long as the saw can move the weight of the flywheel will do the work for you