Looks like reused counterflashing. If that’s what it is then yes. As long as they applied new sealant (which it looks like they did.

Unlike what the rest of these guys seem to think pretty does not equal watertight. We would need to know more. Did they originally grind into the mortar then tuck the counter flashing into that and seal it with a sealant. Then yes reusing it is possible and that looks like what happened here.

I’d apply more Sealent to make sure it’s 100 percent waterproof at the mortar line. But while I personally don’t reuse counter flashing it’s 100 percent ok to do so.

If you have a leak in that area that could be where.... but I’d like more pictures of the area first.