Yes.
1. Build a rough mesh on the sparse cloud using highest triangle count or even better, a custom quality number with 2x the number of tie points. (consider using height field mode if your project allows it)
2. Select your area of interest on the triangle mesh and use crop button to keep only the selected triangles.
3. File import masks from model. (to all photos, to a selection of photos or to the entire workspace)
As long as triangles on tie points are going to be large and uneven, your selection and therefore your mask, will have borders like a saw. If you want them to have cleaner boundaries you can build a low quality dense cloud, then use a polygon to select dense points inside, then crop. Next is to build a mesh based on the remaining dense points (extrapolation disabled) and again use mask import form model.
I hope this workflow works for you.
Best regards
José Martínez
GEOBIT CONSULTING SL CTO.
ACCUPIXEL LTD. co-founder.