Yes, it can, but the true answer to “How do I minimize technical debt" is how you deal with your technology strategy.
Technical Debt management must be an active practice and a process of your IT Governance.
So should your strategy embed a principle saying that each development of simple solutions usually based on complex spreadsheets, Word documents with macros, simple apps focusing on forms/user input must be developed on the same Low Code platform technology, AND that the low code platform is actively kept up to date (or even better is a SaaS), then yes, the low code platform will reduce the technical debt.
Also, this is why an advertised governance and some internal oversight practice (usually performed by Architects and Tech Leads) are important. It is a continuous education/decision-making habit because you continuously have new staff coming, and you cannot expect them to know all principles.
Regards, Yannick HUCHARD
Originally written on Quora: May 28, 2022. Original answer.