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Yes, you can do it that way as long as it is temporary
Withing a few months the henrys will start cracking
A better product would be Henrys White Elostomeric patch and coating, when you apply it you should apply a layer of nylon webbing to prevent it from cracking.
The way you do it is to apply a layer of the patch compound, then the webbing, then another layer of patching compound.
This method will last for a few years