In the comics, yes. However since when have the MCU strictly follow comic arcs? Maybe not Iron lad specifically but I'm pretty sure they had planned on him taking over the role in some way.

So whatever happened to Iron lad? Anyone that? Were they not trying to set up Ty Simpkins, the kid from iron man 3 aswell as the funeral at the end of end game. I would have liked to see that, since he was already a established character and helped Tony.