Technically yes, when your headphone monitoring is set to binaural, and you have a thorough knowledge of translating a Dolby Atmos mix to binaural format, using all the necessary settings. It is not recommendable though, as it will not give you the same experience as working on a full Dolby Atmos speaker system.
At Atmos for Music we always to use a physical 7.1.4 monitor system, and check the binaural mixes on headphones, as most of the end users will experience music like this.
