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Yes - it can quieten down noisy frames, permanently. If not, frame warranty, because it's not to spec.
Before pulling the trigger on that, check everything else, seatpost, QRs, pedals etc. If you have a cheapy FSA crankset, you'll have cheapy FSA bearings, so invest in a nice set of bearings - the Token Tiramic bearings worked well for me in some hideous cyclocross conditions.
Loctite green (park suggest 609) fixing compound is the last resort.
Remove and clean everything then loctite fixing compound new bearings.