Is it okey to use side effects in the useState hook callback?

Imagine situation:

const [value, setValue] = useState(false);

const setSomething = (val) => {
  setValue((prev) => {
    fn(); dispatch(action); // or any other side effect
    
    return prev + val;
  });
};

Is it programmatically okey and fine with react principles to call side effects inside useState callback? May it affect the render process somehow?