Yes of course. Preferably those 2 levels of current are near the expected operating levels ,
but it is still possible to measure threshold voltage Vth at < 1% If(max) and then measure Vf at If (max) to make an approximation of ESR if one does it quickly, then estimate thermal rise and Shockley effect of drop in drop in voltage for steady state.
ESR follows Ohm's Law for small changes in current when saturated, meaning that as power dissipation does not change drastically, it is fairly accurate.
There are many ways to do it, including reading the VI curves on the product specs.
There are many methods. Since tolerance is high, use good estimates from measurements.
Be sure that when changing the current, it does not change voltage due to thermal shift, so the measurement of must be relatively quick.
ESR=delta V/delta I
Below is a new high power Cree array of 4 LEDs either 6 or 12V option, 130 lumen / W
Note the slope is ESR
so as slope with current rises, ESR drops a bit
They often spec Vf at @If @25'C as the test is done in milliseconds with a pulse.