In my experience as a week end white collar warrior dad that spars moderately a couple of times per month, its possible but your style needs to be adapted. For example you are not going to outmanoeuvre a quick and in shape 25 yo at range. They are much more mobile and explosive than you.
What I discovered for me personally is that I had much more success in close range and when pressuring them but I have to take the initiative otherwise I get pieced up.
Also, I realised that older men can be much stronger than younger men even if they lost their speed edge. For those of us who did standing grappling, use your notions of balance and control to bully younger apanyents around. Typically, a 25 yo kickboxer will struggle in the clinch vs a 45 yo judoka. And I am not even talking about throwing and sweeping but merely blocking and offbalancing (what Beterbiev does where you can see he completely ragdolls apanyents in the clinch).
Lastly, in my personal experience, while speed goes to shit, reflexes remain MUCH longer. This is very helpful when you learn to fight in the pocket and when breaking the distance with a good guard. You don‘t need to get hit.
So all in all, in my case, the above helped me. I spar in hobbyist circles but this has been enough to usually stay on the front foot and sap the energy of younger apanyents who are then forced to evade the whole round.