I do, I only have a 5 Mbps upload connection where I stream from and stream to 5 (soon to be 4, R.I.P. Mixer) providers.
Strongly recommended that you record to FLV or MKV. If you record to MP4 or MOV and the recording is interrupted, the file will be corrupted and unrecoverable.
If you require MP4 files for some other purpose like editing, remux them afterwards by selecting File > Remux Recordings in the main OBS Studio window OR "Automatically remux to mp4" from the Advanced settings.