Yes. You have to define a cutting plane using a normal and a position vector. Then you must store those value in a vector parameter set that the materials can access.
Finally do some math and check if the world position of the fragment is on either the top or the bottom side of the plane. You can use the dot product and the cosine part of it for this.
If the cosine is smaller than 0, then simply mask it out in the material editor. You have to set it to translucent masked in thw material properies though.
Good luck.