No. You need 4 cups of flour and 2 cups of sugar. You have more than enough sugar, but not enough flour, so you can't follow the recipe.

The question about whether you have enough supplies has two parts:

You need at least 4 cups of flour AND You need at least 2 cups of sugar

Since you do not have enough flour, you don't have enough supplies.

What if you had 9 cups of flour and 1 cup of sugar. Now could you follow the recipe?