False
We know that, the points lies on perpendicular bisector of the line segment joining the two points is equidistant from these two points.
So,
PA should be equals to the PB.
Now, with the help of distance formula;

∵ PA ≠ PB
As we can see that PA ≠ PB
So, the point P does not lie on the perpendicular bisector of AB.