I'm going to say yes and no. You can do late corks, but you still kind of have to set it as a cork when you take off for it to work. If you try to throw a straight up upright spin and try to cork it while in the air, you'll probably eat shit (or just look silly while spinning upright).
I've done some shitty late corks over the years and I found that setting your spin with the slightest wobble and going for a late leading mute allows your shoulder to really drop into the spin/grab making for a good late cork. The harder you tweak the leading mute, the more cork you get.
And as said before, the more air time you get the easier it is to get your feet back under you.