Thank you for clarification.
Yes, it's possible.
It's best to address any issues first. You see, any prior denial will complicate your future I-130 case. USCIS will naturally spend more time scrutinizing everything / hesitating to approve whenever you have a mark on your immigration file.
So the best course of action is to address any issues and then file I-130. There's no point spending money and waiting to get a denial.
If it would get miraculously approved without naturalization certifcate flagged again, this same issue may arise when immigrant will file for I-751 or N-400 or even I-90 to replace GC. You'd do a disservice to the immigrant by keeping everything as is and not fixing the issue. This is how legendary messy cases are created that news buzz about. Do what's in your control to prevent it - by correcting your naturalization certificate.