Let's say you break off clouds at 2000' AFE, that's when you see the runway and the PAPI and although you are high on the approach, your assessment of the situation tells you that the landing can be made on the TDZ, and in fact, you do, despite having four white lights on the PAPI. You have four white lights until touchdown.
As ever the devil is in the detail,
most SOPs require a stabilised approach, and they define the criteria. I would suggest that if at 500' AFE, (in VMC) you are still looking at 4 whites then Go-Around.