Short answer
Not necessarily. The 4th (or even 5th or 6th) “Pumped” LED typically employs a phosophor coated light source that generally yields efficiencies lower than standard RGB LED (and laser) light source. Additionally the color spectrum tends to drift depending on the pumped color resulting in both lower total optical efficiency and color quality. However 4LED (or even 5 or 6) enables much higher brightness per a form factor.

The 3LED vs. 4LED Architecture
Standard 3LED: Utilizes three distinct light-emitting diodes—one Red, one Green, and one Blue. The total optical output is fundamentally constrained by the physical brightness limits of those three individual diodes, particularly the Green LED, which is historically the hardest to drive efficiently.
Advanced 4LED: Adds a supplementary fourth "pump" LED (typically an additional blue LED coated with a green phosphor). This fourth light channel redirects its energy to boost overall green light channel output by up to 30–40%.
Benefits of 4x LED (Pumped)
Human eyes are most sensitive to green wavelengths in the visible light spectrum. By boosting the green channel output (often through blue + phosphor), projector manufacturers can dramatically increase total perceived luminance
Bottom Line: A 4LED projector provides higher peak brightness, at the expense of efficiency and color quality compared to an equivalent 3LED model, while retaining the same 30,000-hour lifespan benefits.