Yes, but not as easy at it should be.
There is a text file called pipethreads.txt. This has the information needed to generate the correct depiction of a pipe thread. Depending on whether this is an internal or external thread, you have to use protrusion or cutout with the exact values listed in pipethreads.txt. Once that feature is made, you use the thread feature to add your cosmetic thread.
I wish internal NPT and other pipethreads were available through the hole command, but they're not. Maybe in a future version.
--Scott
For some pleasure reading, try FAQ731-376