Hi! Yes, this configuration has been working very well for me. The only reason I’m aware of to lower the resistor value would be to reduce noise effects. In my case, the 100 nF capacitor removed all significant noise while allowing me to keep the 200 kohm resistors.
Of course, if your input voltage exceeds much more than about 4.2V then you’ll need to adjust the resistor values in the voltage divider accordingly.
Best of luck!