Yes, its safety when used as a food additive has been approved by the U.S. Food and Drug Administration (FDA), European Food Safety Authority (EFSA),  Joint FAO/WHO Expert Committee on Food Additives (JECFA), as well as other authorities.

FDA
It is GENERALLY RECOGNIZED AS SAFE (GRAS) and can be used as an humectant, nutritive sweetener, sequestrant, stabilizer and and texturizer in food.

The following are the approved food categories with the max usage (7):

Hard candy and cough drops: 99%
Soft candy: 98%
Chewing gum: 75%
Nonstandardized jams and jellies, baked goods and baking mixes: 30%
Frozen dairy desserts and mixes: 17%
Other foods: 12%
EFSA
Sorbitol E420(i) and sorbitol syrup E420(ii) are listed in Commission Regulation (EU) No 231/2012 as an authorised food additive and categorized as “sweeteners” (8).

Authorised Uses And Use Levels

Most of its application is listed in Group I with the usage of “quantum satis”. It can also be used as a carrier in all food additives and nutrients for the purpose other than sweetening. (9)

UK Food Standards Agency
Categorized in “Sweeteners” (10)

Food Standards Australia New Zealand
In Australia and New Zealand are all with the code number 420. (11)

JECFA
Functional Class: food additives, humectant, sweetener, stabilizer, texturizer, sequestrant, thickener. (12) (13)

Acceptable daily intake: “ADI not specific” set in 1982 and there is no need for a separate evaluation and ADI establishment for sorbitol syrup in the 2018 evaluation. (14) (15)

http://www.chinafooding.com/Sorbitol