I think it is, but to be clear I think (from my very limited experience, just a couple of years before leaving finance, and the people with more experience that I've talked with) that c++ is still a lot more common than any GC language (typically java, since OCaml is even rarer). So it is possible, and some firms seem to take that approach, but I'm not sure exactly how besides turning off GC or very specific GC tuning.

Here is a JVM project I saw a few years back, I'm not sure how successful the creators are but they seem to use it in actual production. It's super rare to get even a glimpse at HFT infra from the outside so it's still useful.

https://github.com/OpenHFT