Based on this...

Exploitation involves sending a malicious UDP packet to port 631 on the target, directing it to an attacker-controlled IPP server. The system’s cups-browsed service then connects back, fetching printer attributes, which include malicious PPD directives. When a print job starts, these directives execute, allowing the attacker’s code to run on the target system.

...it seems the exploit can be triggered either remotely through your CUPS instance listening on port 631, or locally by interacting with a malicious/compromised print server.

So if I understand correctly, shutting down that port wouldn't be enough by itself. You would also have to keep your system from initiating contact with such a server, such as by using a public printer, or conceivably even just browsing printers at a cafe/business/school. I haven't read the exploit details, so I don't know which interactions are safe, if any.