The answer is almost certainly yes - though whether or not this is preferable to doing it in Photoshop depends a lot on your workflow.
You probably are going to need to use two instances of the photo, one on top of the other:
You may, for example, apply Gaussian blur to the bottom photo, and the apply a shape or draw mask to the top one, and control the feathering
of the mask to get a nice smooth transition from the focused center to the blurred edges: