Yes.
No problem whatsoever.
PanelView Plus uses RSLinx Enterprise as a data server, and it works smoothly with SLC-5/05 controllers of any age and revision. I have done numerous projects with both products together.
RSLinx Enterprise is very efficient and fast when communicating with the SLC-5/05.
You can use Direct Reference tags or HMI Database tags with SLC addresses attached to them. I prefer Direct Reference tags.
Because RSLinx Enterprise (for RSView Studio) and RSLinx Classic (for RSLogix 500) both work with the TCP/IP stack in Windows, there's no problem running them both simultaneously to do HMI and SLC development at the same time.