You could use the correcting polish with the microfiber cutting pad, but I would not use it like that. Microfiber pads tend to heat up and to push the fibers down, and make the microfiber flat, so they don’t cut as fast or work as well. I would try the correcting polish (orange) with the orange foam pad first, then if you need stronger use the correcting compound (blue) with the microfiber cutting pad.
It would be safe to use and would work, but I wouldn’t do it.
Also, invade you didn’t know, you don’t need to do 3 steps, you can skip from the correcting compound to the finishing polish, that is if you have removed all the defects.