Yes, during the Danger Zone events, the MC, who was an MH, mentions that with the help of the Golden Seed he had a power equal to that of a powerful LH. And that's only with GS, which he could only use a maximum of four times at the time. With enough Qi and a presumably more powerful dao, it's only logical, and without defying lore, that he could challenge higher levels.
Of course, from PH to EX is quite difficult, but I dare not say impossible, after all, as some love to remind us, Ruo could defeat an EH when he was still "mortal". So to assume that the MC, who is, by definition and 100% canonical, more and better, can do the same is not unreasonable.