Based on our own research - probably. But it requires tooling to integrate into a CI/CD pipeline, conversion of existing CF stack definitions to Terraform definitions, and a lossy/downtime laden migration.
For a team with the goals of IAC, hands-off, and high-availability infrastructure, migrating is a pain.
With Terraform's import functionality, you might be able to migrate into Terraform without any downtime. I believe there are even utilities to translate CloudFormation code straight into Terraform, though I've never tried them.
It would definitely be an annoying migration, even if import works for your use-case, but honestly, dealing with CloudFormation is so irritating on a day-to-day basis for me that I'd consider it worth it.
For a team with the goals of IAC, hands-off, and high-availability infrastructure, migrating is a pain.