In some manner of speaking yes, however there would have to be some big changes to accommodate unchangeable things like the leveling system being hardcoded. Dialogue would be pretty clunky, unless you'd have a way of making one of the 4 options be a gateway to more options like in mass effect I really don't see a decent work around for the that. There's also plenty of other stuff that simply wouldn't transfer over very well I'm sure.
Better off remaking New Vegas from scratch on a different engine like Black Mesa or that new Kotor 1 remake project.