I am not sure what you mean by play but if you mean the sprocket rotates and the camshaft doesn't (or vice versa) the answer is NO! The sprocket and camshaft should be solidly locked together.
If you mean there is a slight rotation of the camshaft sprocket caused by a chain that is first slack on one side the loose on the other and you rotate the sprocket slight and the tight side becomes and the loose and the loose side tight, that is OK.
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