Yes, it is possible but, not very common. By design SLO is a very difficult transfer target. Note their acceptance of just 1758 people last year (just 20%) That’s a little lower than UCB or UCLA… By charter, all CSUs must offer some preference to ‘local applicants’ Right now local is defined as 'Students whose home domicile is within San Luis Obispo, southern Monterey,and northern Santa Barbara Counties.
A significant portion of the transfers fit that definition. - making a CPP applicant’s odds worse than the headline suggests.
https://admissions.calpoly.edu/prospective/profile.html
https://www.universityofcalifornia.edu/infocenter/transfers-major
https://www2.calstate.edu/apply/freshman/Documents/CSULocalAdmission-ServiceAreas.pdf
Since you have already spent 2 years at a CC, going to CPP, then transferring to CPSLO would not only be unlikely but, an unnecessary detour, delaying your graduation. Similarly, hanging out at your current CC for another year won’t change your odds of getting into SLO but, it would delay your graduation - which is really expensive - because you are out of the workforce. I’d suggest you head to CPP now and make the most of it. Take advantage of their graduation pledge and get on with your life.