No, keep the parent key/folder please. But the parent Registration key is a shared Microsoft registry location and could be used by other software now or later.
Also, Software\Microsoft\Registration is not normally the primary location Windows uses to build the File Explorer “Open with” list. Those associations are commonly stored under locations such as:
HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\FileExts<extension>\OpenWithList
and
HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\FileExts<extension>\OpenWithProgids