I think we need to see a few more lection before saying Hispanics are trending Republican. Remember the Democrats thought the same thing not too long ago.
On the main topic, I want to say yes but I'm not sure.
Honestly, the ‘trend’ looks allot more like mean reversion. Remember Trump 2016 was running as an explicitly anti-Hispanic candidate and by 2020 wasn’t. I wouldn’t be shocked to find this is just Latinos reverting to pre-2016 norms.
Backing this up, it looks like right now most of the gains with the Hispanic community has been in South Florida and Texas, where Republicans have traditionally done comparatively well with them.