As long as you have a Mindbolt (which is a prerequisite for Emulate Ranged Weapon), then yes. Remember that Emulate Ranged Weapon only lets you emulate one specific sort of ranged weapon, and a composite longbow with a +5 strength rating is not the same as a composite longbow with a different strength rating, so if you want to change the strength rating on your emulated weapon you're going to need to retrain the blade skill and pick a different one (or ask your GM nicely, because it's frankly a little bit silly).