If you're asking if you can make calls or receive texts while connected to the hotspot, then yes, you can!
However, if you're asking if you can use cellular internet, then I'm afraid that is not possible.
(Mildly technical explanation ahead!) The reason is that, when connected to WiFi, the iPhone funnels all requests through that Wifi connection to the dashcam's built-in server. Now, some apps are programmed to switch to cellular if the connection times out, but this takes a not-insignificant amount of time and is contingent on how the dashcam responds to these requests sent by these other apps (e.g. 404 error vs. DNS lookup failure). (End technical explanation)
Sorry that this probably isn't the news that you wanted, but I hoped it helped to clarify the issue!