Yes, it will.
I believe you can program it out of the TPMS system. When I added a new set of wheels, I had to "relearn" the new OEM sensors. When doing so, I believe the Autel TPMS tool I was using gave me the option to use all 5 sensors or just 4 sensors. I didn't try it with 4 but assuming that option was valid, you should be able to program it out of the system. Maybe someone else can confirm.
I have an Autel MaxiTPMS TS501 but it doesn't offer the option to only record & store four wheels. It prompts for five wheels.