Most of the time it would be ok, but core shift means it will have to be sonic checked to be 100% sure. If the block is already at .030 the machine shop may just hone it to .040 if it looks like it will clean up there.
My experience has been that overheating on a rebuild is usually more likely to be tune related than overbore.
FWIW all Blueprint engine chrysler small blocks are bored .040 as standard practice.