You can, but just know Instagram works differently. Just sharing a link on Instagram isn't going to yeild much results unless people are SUPER interested in what you're doing.
What you COULD try however, which I just thought now, so I have no idea if it would work, but it's worth a try. Upload a trailer/preview video onto your instagram with it's short url in the description. If people love what they've seen and want to see more, they need to manually type in the url because instagram urls currently in descriptions aren't linkable.
You can always just say "link in bio" and have the vido url in your Instagram bio, but honestly I don't know how well that goes unless you already have an established following, and even then... once you publish a second video... it invalidates all your previous videos because those all posts will have "link in bio" but the link in your bio will be to a different video.
Instagram is a tricky one for cross promotion. They really don't want you leaving the platform, so it's better to share your videos by uploading them directly to Instagram, and then use calls to action to visit your youtube channel to promote more.
That said, with TubeBuddy's new aquisition, there might be a possibility of more focus with instagram on the AI side of things. It's going to be a very interesting few years for sure.