Not if you can invoke the Grub menu, no. Then you'd just edit the boot line to see if your fix works, then make it permanent if it does.
Otherwise, you can make the change permanent without testing with the chroot environment. I think you do need the bind mounts to the pseudo-filesystems, too, so that the update-grub script knows where to find things to set them up properly.
The process is quite straightforward: since your own install isn't booting, you use the infrastructure of the live USB, which can boot. Then you change the root of the commands that you're running, so that they take effect as if they were running on your install. It's a very useful troubleshooting thing.
I have no idea if the fix you've found will have any effect, and I don't know how hard you've tried to bring up the Grub menu as an alternative, but the chroot method is a way that you can change your boot options without being able to boot and without having access to the Grub menu.
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