Can it? Yes. Will it? Maybe. Why? It depends on whether you win the Intel chip lottery or not. Each chip is different in how it behaves when overclocked. Some chips are simply better overclockers than others and if you get a "bad one" then it may just get too hot to be worth the oc at that speed. How hot is that? Well, it depends on how long you want your cpu to last. The closer you get to the throttle point the worse so conversely the further from it the better.
For example, I have an i7-3770k 4.4GHz as my 247 oc. I have hit 4.8GHz but my temps were in the 90s during load and that was way too hot for my liking. Some people argue that your cpu will be fine but I have no need to push my rig like that. My 4.4 247oc runs a cool 57c at normal loads (gaming, video encoding etc.) and a max 78c under stress testing like intel burn test and prime95 for hours on end. So, if you get a chip that has the same stats but at 4.2 that's good but obviously you'd be a little disappointed. You may then hit 4.4 but get the same temps I did at 4.8 and it will be up to you to keep your rig running that hot. That might not be the case at all and you'll have a great oc'er that will hit the 4.4 or better speeds and stay cool.
Perhaps you knew all this but in case you didn't I wanted to spell it all out here for you as this is a very common question. On another note, if you're simply asking will these components give me the best chance of getting 4.4s and 4.5s then the simple answer is very likely yes! There are no guarantees of course for reasons I stated above but I hope now the reasons why are absolutely clear!
The last but perhaps the most important factor other than your components is you. If you are patient and methodical then the overclocking experience will be very rewarding. Learning how to manually adjust the right way will get you the optimal results. All you need to do is take the time up front in preparation by learning from guides most appropriate for your particular setup. The overclocking software that comes with some of these boards are okay but tend to overvolt and add heat yielding lower "reasonable" oc's or stable oc's that are lower with higher temps (not always but typically the case). So keep in mind, if you put in the work, you'll get the best results available!
Hope this helps! Have fun!
Thanks,
Justin S.
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