Yes — thin sheet foams like Depron, fan-fold (FFF) and thin XPS hot-wire nicely for flat-plate RC models and prototypes, but they are usually so thin that a straightedge and a hot knife or a simple bow is easier than a full CNC cutter. If you do run them on a machine, support the sheet flat so it cannot lift into the wire.
Avoid paper-faced foam board (the craft kind) — the paper does not cut with a wire and chars. For multi-layer or 3D shapes you would laminate sheets, but for genuine 3D foam parts a thicker EPS/XPS block on a 2-axis or 4-axis cutter is the right tool. Thin sheets are more about straight cuts than profiles.
Avoid paper-faced foam board (the craft kind) — the paper does not cut with a wire and chars. For multi-layer or 3D shapes you would laminate sheets, but for genuine 3D foam parts a thicker EPS/XPS block on a 2-axis or 4-axis cutter is the right tool. Thin sheets are more about straight cuts than profiles.