Hi, Nordsee
The broad answer is usually yes, but in this case yes - if you use a small enough propellor
The rules of Speed 400ing are that the current draw must not exceed 10A for more than a moment - so what matters is the load.
I would not try this setup with a prop bigger than 20 to 25mm dia. There is a sweet 30mm racing graupner prop - but it would need to be reduced in diameter.
Generally the "voltage" on a Speed motor is telling you about the diameter of wire inside, but on the 4.8 version is is pretty nearly true
The S400 4.8 is a real screamer and was aimed at low voltage, high current applications (it comes out of 2-cell screwdrivers)
Try it, feel the motor after a minute - if you can touch it give it another minute
andrew