Yes. Although older versions of BlueStacks were found to contain vulnerabilities that cybercriminals could exploit, the devs have already patched those issues in the more recent version of the application.
As long as you stick to the most recent BlueStacks build (and no version older than BlueStacks 4.8) you will not be vulnerable to remote code execution attacks that previously allowed hackers to steal people’s personal data.
If you are a long-time BlueStacks user, we recommend that you check you aren’t using an older version of BlueStacks, because this will still contain the IPC Mechanism flaw that allowed hackers to exploit users.
In addition, we recommend that you always stick to using BlueStacks with the added protection of a VPN as this will vastly increase your privacy and security when you use the emulator both at home and when on public wifi.