An engineer is developing an instance of IdentitylQ using the Services Standard Build (SSB) for...

Yes, this is a valid action. When using the Services Standard Build (SSB) in SailPoint IdentityIQ, placing the patch jar file in the build'sbase/patchfolder is a correct procedure, provided the patch version matches what the client is using. This allows the build process to incorporate the patch into the deployment, ensuring that the correct versions and fixes are applied to the IdentityIQ instance.

References:

SailPoint IdentityIQ Services Standard Build Guide

SailPoint IdentityIQ Patching and Version Management Guide