Short answer: partly yes. In a large survey, a therapeutic-like setting and supportive relationships were linked to weaker connections between life stress, difficult psychedelic experiences, and some negative psychological outcomes. The buffering was not universal across all outcomes.
In an international online survey of 1,867 psychedelic users reported in a recent study, researchers tested whether context and support moderated these links. More stressful life events were associated with more challenging experiences, and those challenges related to outcomes.
A therapeutic-like context weakened the link from life stress to challenging experiences, and from challenges to coping. Therapeutic-like support moderated how challenges related to valence, coping impact, and well-being, and also showed independent associations even when interaction effects were not found.
Important caveat: the data are cross-sectional and self-reported, so they do not show causation or guarantee prevention. Overall, context and support appear relevant, but their buffering effects are partial and not definitive.
In sum, context and support may help, but the evidence here is correlational.