This doesn't make any sense. Those things are separated. LEMP just means they're all installed on the machine. So yes, use it.

Alex, you are correct. What I meant to ask is it okay to install all those components on the same machine to be used as a production server.

Is that a good practice though?

It's safe, yes. It's probably safer to host them on one box and have them listen on the loopback interface than hosting them on two.

However, you might need to separate them for redundancy purposes or horizontal scaling.