From MSDN, at .NET Framework system requirements :
"Windows 10 October 2020 Update (version 20H2)
Preinstalled with the OS : .NET Framework 4.8"
"If the OS comes pre-installed with a particular .NET Framework version, you can't install a previous 4.x version on the same machine."
It should work.
For example, I have 4.8 installed on my Windows 10 OS (1909) and all my applications targetted to 4.7.2 work