Yes if it has 4-axis motion. Replace the spindle with a wire mount; add a second pair of gantries opposite the first; add a wire PSU + MOSFET; flash a controller that supports 4-axis G-code (FluidNC or similar). Easier said than done — most hobby CNC routers are XYZ only and would need significant reframing.
Most people find it cheaper to just build a dedicated hot-wire from scratch. The mechanical bits are simple.
Most people find it cheaper to just build a dedicated hot-wire from scratch. The mechanical bits are simple.