Only if you save as a copy. Just regular saving hasn’t worked for me.
https://forum.inaturalist.org/t/android-app-observations-dont-have-location-if-the-photo-is-edited-prior-to-upload/17408
This functionality is already available on the Android app, which is one reason I upload most observations through the app. Hopefully this means it will become available for other parts of the site in the future.