I agree, because
if it is "working", then if you approach it reasonably, your concerns will just be addressed calmly, and often with a smile.
Some peoples creepy can be another persons turn-on, but if the guy involved takes too much offense at you interceding, it's probably something she should know about before she takes things further.
I've interceded before, e.g. an instance where two girls at a club seemed to be "surrounded" by four guys bringing one them drinks (the other one was refusing). It could have been family or friends, in which case they'd have told me, I'd have felt like an idiot and apologized. But it looked odd and looked like they were being cornered while the guys tried to get them drunk without drinking much themselves.
When approaching them it quickly became clear one of the girls were dead drunk and her friend was scared of both the four other guys, and now me (for what she knew I might have come to join in), and tried getting her friend away from both. So I placed myself between the four guys and the girls and blocked the guys until the more sober friend was able to drag her drunk friend out of there. I don't know the story - it could have ended well without me, but it also couldn't, and the fact the guys were getting agitated made it clear I did the right thing (they didn't dare do more than try to push me out of the way, given that there were big bouncers near enough to see, though not near enough that I wanted to leave the girls alone long enough to bring one over).
But I've also asked girls if they were ok, and gotten told, that yes, the guy is her boy friend, and to kindly leave them alone (sometimes with distinctly ruder wording), while the guy stood by and let her deal with it.
No harm done by asking, and seeing the guys not have a problem with me checking if the woman in question is safe is in itself a good sign.
I know that if anyone came up to my girlfriend to make sure she is safe when out, I'd be happy to see someone looking out for people, not feel threatened, because I have nothing to feel threatened about, and because I'd hope there are people like that around if she's out with girlfriends without me and someone tries anything.