Yes—people do use Pentax K-mount 50mm f/1.7 lenses on Canon EOS bodies with simple adapter rings, and the results can be very good. One user reported excellent image quality and a solid fit with very little play.

The main tradeoff is usability: you’ll typically be working fully manually. That usually means focusing first with the lens wide open, then stopping down to the chosen aperture, metering if needed, and taking the shot. An AF-confirm chip may help with focus confirmation, but it does not make the lens autofocus.

As for image quality, older primes can perform very well, especially for the price, and many are solidly built. A common weakness is flare resistance compared with newer lenses, so avoid strong light sources hitting the front element and use a lens hood when possible.

So if you’re comfortable with manual focus and manual aperture control, adapting that lens to Canon EOS is a reasonable and worthwhile option.