That's why we disable exceptions in video games.
No.
We disable exceptions in video games for dumb historical reasons that no longer apply.
There are tons of games where exceptions are perfectly fine. Though still more often used for "probably going to crash soon" situations than otherwise, I'd wager.
You can definitely do it but you’d be conceptually allowing for frame skips in your codebase. It could be difficult to audit and remove this assumption if down the road you wanted to tighten up your main loop code.
But there's often lots of other stuff going on, such as IO in other threads. You wouldn't want that stuff in your main loop for the same reasons, so since it's segregated anyway, exceptions aren't so bad (usually).