For the most part yes it will. You might notice some deep in the grooves between the rifling that even shooting a fair amount of FMJ will probably never get out though.
It's likely not Titegroup causing the smoke. I loaded up all kinds of different bullets with TG and only the hi-tek coated lead bullets smoke. The FMJs, plated, and blue bullets (SNS coating I believe?) do not smoke through my PCC or pistols.