Kinda but not really. This is probably Syncthing’s biggest weakness.
Syncthing doesn’t understand the concept of selective sync. It’s a weakness for the arrangement you are considering.
It can sort of be done with ignore patterns but it really isn’t designed to do what you want it to do. There have been multiple discussions about this in the past and some starting attempts (including a recent set of pull requests) but nothing has made it into the mainstream syncthing yet.
This is not an easy thing to implement, but I do wish someone with more intimate knowledge of the code would take a serious crack at it.
Some discussion about it here: