Yes, but you won't really get so much benefit. The XP-G is a larger LED, so it will not throw as well as an XR-E of equal brightness. The brightness boost in the Cree brightness bins is Q5 to R5, or (R2, R3, R4, R5) 4 bins. Each bin is about 7% brightness, so you may gain 28% output and lose 20% of the punch of the flashlight. 20% change in absolute output is very hard to notice. With side-by-side comparison you might be able to tell. But 20% change in absolute throw is more noticeable to me. There may be a slight change in runtime.
Also, can you guarantee that you place the new LED exactly correct? I don't know the geometry of the flashlight, but if the LED is a few dozen microns out of place (left/right, up/down), the beam pattern will be affected. Focusable lights can correct up/down displacement, but you'd lose max or min focus range. But being off-axis leads to UGLY beam patterns.
In short: Yes, you can. But there are things to watch out for!