Nope. The optimal release point is in that circle. Check the in-game tutorial, and the percentage in the shot feedback.
The thing is, the optimal release point does not mean a guaranteed basket. It means you're taking the highest percentage shot possible, given the timing of your release, the player's ratings, and situational factors such as how well you're guarded, whether you're shooting off the dribble, or so on. If you want to give yourself the best possible chance of making any given shot, make sure you're letting go of the shoot button when the meter is in that circle. Increase the odds by making sure you're open and set for the shot, and are using a good shooter.