You’re welcome to participate in the jam, even if you’re working with a team!
if your team would like to join, I'd say just use your best judgment, we’re not a huge community. it may be worth removing yourself from the ranking aspect of the jam if you guys are "pros". Since most participants are solodevs and hobbyists, people may see that you have an unfair advantage if your team completely blows away all other submissions. This MIGHT affect how people decide to vote on your game.
I don't think this should be a problem unless you're working with a whole bunch of people and you guys have a 2-year project already under your belt.
Sorry for the late response!