IME yes, it absolutely can be. I am approaching middle age & still comfortably enjoy pushing myself in physical activities where falls are likely, with zero significant injuries aside from a couple sprained ankles from playing basketball (& technically the ankle rolling came before the fall in these couple mishaps; letting my body roll/fall out of it just helped reduce the severity). Also it's more about technique & familiarity/reflex training than safety gear, although I do wear a Zamst ankle brace on my weak ankle whenever I play basketball & started wearing a helmet for snowboarding a few years ago. Jackie Chan & Buster Keaton were even better at this, although they pushed it a lot farther & did sustain major injuries in their stunt careers.

However, there's a big caveat: I've been practicing falling safely since a young age & really mastered it in my teenage years practicing martial arts & snowboarding. I'm sure it's much harder & more dangerous to learn if you first start in middle age, although I'd imagine it's still possible with the right training & appropriate caution.