Yes. Select the ad or ad set, click Bulk edits above the table, and then click Duplicate in the bar that appears below.

Ad: Turn on Duplicate into another ad set. Under Destination account, keep the current account or choose another active Meta ad account. Select one or more Destination campaigns and then the Destination ad sets in each campaign. The ad is duplicated into every selected ad set, including ad sets in campaigns with a different objective (the creative is adapted to the destination). When the destination is another account, the image or video is uploaded again and the ad uses a Page available to that account.

Ad set: Turn on Duplicate into another campaign and select the destination campaigns. Use Include ads to choose whether the ads in the ad set should also be duplicated. An ad set can only be duplicated into campaigns in the same account. To move the full structure to another account, duplicate the campaign with Duplicate to another ad account.

Progress appears in the card in the corner of the screen. If a copy fails, the card shows how many succeeded and the reason for the first failure.