Don't get your hopes up too much, but potentially yes. Congress is the one that has the power of the purse. They appropriate money to be used for certain purposes and the Executive is responsible for spending that money on the things Congress appropriated it for by a certain date from the bill that did the funding. But usually the form this takes is Congress giving a number and the President deciding exactly what to do to meet that number. Any time before that deadline Congress can decide to reappropriate funds for something else. They usually just opt to change the numbers next time around. Biden tried to get them to do this with some sections of border wall that were funded under Trump. So theoretically yes Congress could cancel this later if they wanted to.

But even if they don't, if what you quoted is accurate this is probably one of the best case scenarios for us non-Genocide Enjoyers. This means that the Biden admin is eating up $18 billion dollars of the money Congress appropriated for Israel aid to build jets that they won't get in time to further their genocidal aims. Since that money has to get spent arming Israel regardless since that's what Congress appropriated it for it's much better if it goes to expensive shit they won't get for years than munitions they could use within weeks to bomb more civilians.