You are perfectly entitled to decant any red wine you like even if is just for aesthetic reasons. However, there are certain wines it will impact and others that it could have a slightly strange influence on.
The most common question around this topic, is whether or not one should decant white wine. The answer is to tread with caution here as most white wines don’t need to go through the decanting process and there is a small number that could be negatively impacted.
However, if you do come across a white wine that has developed a rich, mushroom like flavour that many dislike, then this could be a rare instance when we would recommend decanting the wine. The aforementioned oxygen reaction should mellow this out and leave you with a very drinkable tipple in the process.
So, be sure to consider decanting your white wine very carefully. If it smells and tastes okay then we would not suggest running the risk of ruining it; the process is really designed for red wines and their rich tannins.