Sure -- you can copy elements outside of your workspace; however, if you paste them, and the layers the elements are on are not a part of your workspace, you cannot manipulate them. This is handy if you're working via Marquee, but you may run into problems if you're working by Story and/or Layers.
MacBook Pro Apple M2 Max, 96 GB of RAM
AC26 US (5002) on Mac OS Ventura 13.5