Yes, this is how you would want to handle exceptions from inside a with
statement. ContextManagers (that implement the behavior behind the with
statement) can handle exceptions but should only do so to properly clean up resources used by the object.
Here's a snippet from the relevant documentation:
If BLOCK raises an exception, the context manager’s exit() method
is called with three arguments, the exception details (type, value,
traceback, the same values returned by sys.exc_info(), which can also
be None if no exception occurred). The method’s return value controls
whether an exception is re-raised: any false value re-raises the
exception, and True will result in suppressing it. You’ll only rarely
want to suppress the exception, because if you do the author of the
code containing the ‘with‘ statement will never realize anything went
wrong.