Yes. Maimonedes was a great man and understood the pressures to deny their religion put on Jews by both Muslims and Christians (Spain, Yemen). He did not want the Jews who succombed to these pressures to be ousted from the community. He wanted to encourage their return. Judaism, contrary to some perceptions, is a very forgiving religion.
But that does not change the basic fact that under Jewish law it is not permitted to deny your faith.
Maimonides believed that if you attempt to return to Judaism and even practice a little bit (with the intention of returning to the fold when the time is right) you will be forgiven. Rabbis took the Maimonidean position vis a vis the marranos in the 15th and 16th centuries.