I'm going to edge toward no.
I put my daughter in preK 3's in 2019 when she was 2.75. I see in hindsight she was a little too young for it. Just a year later, she is SO much more social, separates more easily, more interested in "learning," etc.
HOWEVER, I really need it back then because I had a new baby and needed a break. Unless the SAP really needs those mornings off from both children, then I would say it's not quite worth it. Particularly if you have to drive that much.
If your SAP doesn't need those full mornings off, and they are into it, I've discovered this year that preschool "homeschool" is actually kind of fun. With your older child in school, this would be a cool time to do some really simple letters, numbers, art, etc. with your youngest child. It's been really fun for me to watch my daughter learn things this year, vs when she was in preschool last year and I would get random art projects home and be like wtf is this?