They only mention supporting version 126.96.36.199+ for AEM 6.5. So, I would recommend you upgrade your AEM instance to service pack 188.8.131.52+ if you want to proceed with the latest core component and want to avoid any unexpected issue.
Hi @chandeshj240320 , as per the documentation the Core Components 2.9.0 is compatible with AEM 6.5.4+ version. As mentioned by you that you have deployed the Core Components 2.9.0 on AEM 6.5.3 and you are not facing any issue, but in the future, if you face any issue/if you find any bug, Adobe will not provide support for that because of the recommended version is AEM 6.5.4+.
So I would recommend using the version AEM 6.5.4 so that in future if you face any issue you can reach out to Adobe support for help.