Yes, it is. You can use the ErrorHandler setting for that.
ErrorHandler = 404:/redirect.php
You should create a redirect.php script (or some other CGI script) which redirects the client to the right URL.
Another solution is to use the UrlToolkit:
UrlToolkit {
ToolkitID = redirect
RequestURI exists Return
Match .* Rewrite /redirect.php
}
VirtualHost {
...
UseToolkit = redirect
}