Yes you can, upgrading to the 532 would be a better choice. You need to load the driver before you switch, so install the 532, boot off while still connected to the 431; install the driver, swap cables from 431 to 532 and remove the 431, set the boot controller to the 532 (from the ORCA (F8) of the 532), run the SCU to that the system changes are registered and you should be good to go. Have a valid and current back up!
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