Assuming HS - Yes, with the set of circumstances you list, I would consider it. But I would also consider... what, exactly is the score situation (you said close ?), how good are my 4 and 5 hitters?, how fast is the 3 hitter (likelihood of double play GO)?, what is pitching matchup for 3, 4 and 5 hitter?, how good is 3 hitter at bunting?, how strong is 3b and where is he playing?, what is my gut at that moment?, what is the field condition (thick grass, fast turf)?, etc.
I like that the bunt here almost assures at least 1 run and gives you two shots at 2 whereas a ground ball double play or K makes that far less likely. (yes, of course, a hit here is even better but that is only a 1 in 3 chance while a successful bunt is higher odds and if it gets bunted foul, you can go back to hitting away). I also like that a really good bunt by an athletic and capable #3 hitter can very well result in no outs recorded and either bases loaded or a run scored on a hurried throw that gets away from 1b. But these other things factor in as well. Historically, our #3 is best hitter and also a good bunter but not always - I know some programs won't even have their 3,4 hitters practice much bunting so that would factor in as well.