The manual states that no round over 1225 feet persecond be used. +P+ is more than what is needed for a small pistol. So, no,+P+ is more than what the PT111 can handle or is designed for.
The newer generation of holowpoint bullets open at speeds as low as 680 feet per second, penetrate, deeper than older designs, and retain bullet weight much better. This includes even the 147gr.JHP.
These links go into detail and explain a lot of the reasoning behind all this.
"Conventional wisdom" about the 9mm. is not so wise.All the handgun cartridges are weak compared to longarms and crew served weapons.
All the defense cartridges from the 9mm./.38 Special on up in bore size have decent real world records where stopping an assailant is the prime goal. This includes the .40 S&W, .357 SIG, and .45ACP.
Even those are far and few between.A steady of diet of +P+ in any pistol,even if considered able to do it by the factory, will severely batter the gun and it's user.
Velocity is not the "holy grail" of self defense. Shot placement is.
There is the documented case in old Rhodesia where a merc was fighting Cuban troops. He was wounded in his shooting hand and arm yet shot and killed over 20 Cubans who had automatic weapons. He was using standard ball ammo in his 9mm. pistol. Switched to his left hand and survived the fight.
It's the person behind the gun. Not necessarily the ammo type used that makes the difference.
Taurus' gun catalog states that the ammo used in any of their firearms can be a steady diet of +P made to SAAMI pressure specs. It's wise to heed that advice.
Than again, why batter the gun and it's parts. Most compact and subcompact pistols and revolvers are not made for high intensity cartridges unless designed specifically that way.And the performance parameters window for those are small indeed.