I would say no if it were nearly anywhere else but with the entire country being on lock down at least a up until a month you arrive, it's risky. It's going to take a little while for businesses to get back up and running as usual.
I would have a back up plan, but I would not cancel at this point. There is so much uncertainty no one know what it will be like in a month. China is starting to reopen things and hopefully that is a good sign for the future.
I’ve got a Seattle trip in mid may and although it’s not nearly the level of Italy, I haven’t yet cancelled my plans and am monitoring the situation so I wanna say ya never know but at same time as pp mentioned having a back up plan is wise
Don't cancel yet, come up with a plan B. I haven't cancelled my cruise honeymoon for April 13th yet (I'm sure I will soon), but have booked a refundable resort on the beach just in case. I will see how things are in a few weeks
Italy is currently shut down through the beginning of April. They even canceled soccer, which according to DH, is a Big Deal.
May is still a ways out - but I would start talking with your accommodations and possibly look into postponing or changing your plans. Things may get better there, but worse here... or stay bad there. I think the best bet is to stay flexible.