Absolutely! — A 2015 study compared hearing impaired patients who wore hearing aids with hearing impaired patients who did not over a 25 year period. They found that the patients who did not wear hearing aids showed evidence of accelerated cognitive decline. Patients who wore their hearing aids had no more cognitive decline compared to those with normal hearing of a similar age!
Similarly, results from a 2017 study from The Lancet Commission on Dementia Prevention and Care concluded that one of the nine things you can do to help prevent dementia is to manage or treat your hearing loss earlier in life. They also concluded hearing loss as the number one risk factor patients have the power to change to reduce the chance or significantly delay the onset of dementia.