I'm not an epidemiologist, but...

It depends what you mean. I've heard that the incubation period for the virus is said to be two weeks. So if you shook hands with someone that, an hour later, was confirmed to be infected, you should isolate yourself from any contact with other people for two weeks, whether you develop symptoms or not, else you could be infecting others.

But, as a society, the need for self-imposed isolation and social distancing could last for months. If everyone in the world isolated themselves perfectly from everyone else the virus would have no way to find new hosts to multiply. The disease would run its course in each infected individual, causing illness, death, or maybe nothing, and die out in two weeks (I think).

If we effectively practice social distancing to slow the advance of the virus, and thus 'flatten the curve' to avoid overloading the health care system, this actually extends the life of the pandemic, but fewer people will die.