Depends how far it's out, the speed of the blade , diameter and relative weight of the tips amongst other things.
If it is more than 1/2 inch out on an 8 ft prop I should be rather bothered.
If it is made in the usual way with a plywood disc at the back I would plane or sand the disc at the right point to tip that blade in line.
Bad tracking introduces dynamic un-balance that you can't correct without a balancing machine and also if bad enough will cause aerodynamic problems that you can't correct at all. If it is only slightly out it may be ok.
Flux