Yes, with the possible exception of the new Hagrid's ride if it is stormy all day or encounters some other issue that day.
I agree with others, you'll likely be able to do MUCH more than just HP.
It does depend a little how long you spend looking at every little detail. There are many details to see, but like museums, some people linger and some don't.
It also depends how much time you devote to getting/using a wand, and/or watching others use their wands. If at first you don't get picked at one of the Olivander's, you can try again at the other one. Or you can just buy a wand without seeing the show at all, but it is fun. If you are just going to US one time, maybe not worthwhile to get a wand. I haven't priced recently, but they used to run $50-ish. If you get one, it is good forever. If it stops working, they will replace. Fun, but pricey unless you plan to use it many times.
Bonus: just like WDW, If at the end of the day you decide you haven't had enough, Universal will let you upgrade your ticket to a 2 day or even an AP.