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No. You are telling the device what the mastering was, not what it should do when displaying it. You do not change the metadata for your display. The entire reason for metadata is because the file represents colors too bright for your display, you are telling it exactly how bright it represents so your device can figure out the best way to compress it into the range it can actually display.
P3 is very not the same as BT.2020, encoding a BT.2020 source and lying to the display that it is P3 will make it very washed out. The same is true in reverse, P3 content flagged as BT.2020 will be very over saturated. Very noticeable but a decipherable picture.
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