For 4507R-E with Sup-II? The answer is YES, 12.2(31)SGA supports it.
However, what is the exact model of your SUP-II Plus engine?
If you have not ordered it yet, you have to inform your vendor the feature set of your 12.2(31)SGA (i.e. IP BASE W/O CRYPTO, IP BASE SSH) and ask them to provide the SUP-II Plus engine that it will support.