IMHO absolutely. The basics of lexer and parser are still there. Some of the optimizations are also relevant. You just cannot expect to read the book and be able to write GCC or LLVM from scratch(1).
For learning deeper about other advanced topics there is:
So maybe writing a compiler with exactly one FE (for a simple language) and one BE (for a simple architecture), with say 80% of the optimizations could be a doable project.
(1) We should define what we mean by that, because there are thousands of front-ends and back-ends.
For learning deeper about other advanced topics there is:
https://www.cs.cornell.edu/courses/cs6120/2025fa/
and
https://mcyoung.xyz/2025/10/21/ssa-1/
So maybe writing a compiler with exactly one FE (for a simple language) and one BE (for a simple architecture), with say 80% of the optimizations could be a doable project.
(1) We should define what we mean by that, because there are thousands of front-ends and back-ends.