The answer is no even when $X=Y=\Bbb R$, and $\tau$ is a separable metric topology on $X\times Y$.
Let $\varphi:\Bbb R^2\to\Bbb R$ be a bijection, let $\tau_e$ be the Euclidean topology on $\Bbb R$, and let $\tau=\{\varphi^{-1}[U]:U\in\tau_e\}$; let $X$ denote $\Bbb R^2$ equipped with the topology $\tau$. Then $X$ is homeomorphic to $\langle\Bbb R,\tau_e\rangle$, so $X$ is path connected, and $X\setminus\{p\}$ is not path connected for any $p\in X$.
Let $\tau_0$ and $\tau_1$ be topologies on $\Bbb R$. If $\tau$ is the the product topology on $\Bbb R^2$ generated by $\tau_0$ and $\tau_1$, then $\langle\Bbb R,\tau_i\rangle$ must be path connected for $i\in\{0,1\}$. But it’s easily seen that if $Y$ and $Z$ are path connected, and $p\in Y\times Z$, then $(Y\times Z)\setminus\{p\}$ is path connected. (E.g., you can use the idea that I used in this answer, or the one that I used in this answer.) Thus, the product topology on $\Bbb R^2$ generated by $\tau_0$ and $\tau_1$ cannot be $\tau$.
For a rather different argument, notice that if the product topology were $\tau$, then $\langle\Bbb R,\tau_1\rangle$ would have to be connected. But then $\big\{\{x\}\times\Bbb R:x\in\Bbb R\big\}$ would be a partition of $X$ into uncountably many non-trivial connected sets, which is impossible: $X$ is homeomorphic to $\Bbb R$, every non-trivial connected subset of $\Bbb R$ contains a non-empty open interval, and $\Bbb R$ does not contain any uncountable family of pairwise disjoint, non-empty open intervals.