Yes and No.
Pantone (actually it's PMS - Pantone Matching System) is a color reference system used in the printing industry, more specifically for so-called spot colors: every printed color has a number and can thus be reproduced by any printer in the world. Pantone 100 is yellow, Pantone 106 and 113 are warmer yellows, Pantone 137 is an orange, whilst Pantone 172 is red, etc... Every old cabinet, and every old playfield, has been screen printed using spot colors: yellow areas were printed f.i. with pantone 106 and a darker yellow area was printed next with pantone 123, and so on, often more than 10 spot colors were required to print a playfield.
(as opposed to modern playfields which are printed with so-called process colors: a mix of 4 colors (yellow, magenta, cyan and black inks) printed in small dots to create any color combination possible)
So yes: if you plan on screen printing a playfield, then the Pantone reference number is totally relevant because it will allow you to mix the correct screen printing ink, exactly like the one mixed decades ago.
But no: if you plan on using paints then the Pantone reference becomes just a visual reference like any other, because paints use a different reference system from Pantone. In other words: any color reference guide is usable. There is no point in buying an expensive Pantone color guide for simple visual reference. Go to a paint shop, they might have color guides for free.
Finally: to obtain a correct color match you'll have to mix paints anyway. In my experience it only happens very seldom that I can use paint straight out of the bottle. In that regard my advice would be to buy a basic color set (Createx opaques are a very good basis for playfield touch-up imho) and a series of additional colors to fine-tune the mix. And then start experimenting. There's a learning curve. It's not always easy to end up with a perfect mix, but consider that as part of the fun
Good luck!