Can I use a 3.3V linear regulator to convert a 5V square wave level to a 3.3V square wave?

I simulated it, but it doesn't work if I connect the voltage regulator chip and it is not a square wave. Maybe you can try other methods.

This problem can only be tested in practice. Sometimes the theory is OK but the waveform is not ideal.

It should not be ideal, unless your 5V square wave has a certain drive current capability, thinking that the voltage regulator will consume current, otherwise the waveform will be deformed, and then filter capacitors must be added to the LP power supply and output. In this way, the rise and fall are very slow. It will still be deformed unless the square wave frequency is very slow.

Normal people’s idea is to chop 3.3V to generate a square wave through a triode.