That depends, but probably.
Your tax bill for the whole year is determined one time, on your tax return, using all your income, deductions and credits. Your 401k withdrawal is taxed as ordinary income, which might be 12%, 22% or higher, depending on your other income. Plus a 10% penalty for early withdrawal if you are under age 59-1/2. (But if you separated from service from this employer at age 55 or older, you are exempt from the penalty.). You report the withdrawal as income, with all your other income, and you get credit for the withholding, with all your other withholding, but it might not be enough.
The tax on this income could be from 12% to 36% or even higher, plus state income taxes, depending on all other factors. If you normally get a large refund, that might absorb some of the additional tax and just reduce your refund, or you might owe when you file.
You can try this tool to estimate your situation,
https://www.irs.gov/individuals/tax-withholding-estimator
This answer has been verified for accuracy by an Intuit expert employee
