While there’s nothing specifically about the lens correction tool, under “acceptable modifications”, the rules do say
Correction for pincushion or barrel distortion (within reason, you’re on your honour here)
So I would think that would be close enough for lens correction. It’s applied evenly to the entire image, so I don’t think it’s a problem. I think it came up a long time ago and was deemed acceptable. Anyone else have an opinion on that?