That should do fine. But please consider that WordPress itself informs that it supports PHP version 5.6+ and 7+.
Also, the PHP language providers also said php 5.5.17 is deprecated and not supported:
Our theme will not work correctly if you do not have the compatible PHP version. You may need to consider changing your hosting service provider as you will encounter multiple problems if you do not update the PHP to 5.6+ at least.
But we will try our best to work with you on your case to see if it will work. Kindly follow the validation process as mentioned here:
If you still have problems kindly consult with this troubleshooting document: