Yes, but not directly. Since your Threads profile is an extension of your Instagram account, you cannot delete your Threads account separately. This means that the only way to delete your Threads account is to delete the Instagram account it is linked to.
Can you delete a Threads account without deleting your Instagram account?
The account deletion process involves opening the account settings in your Threads app. This will open the Meta Account Center screen, which displays all of your linked accounts on Meta. Oddly enough, you won’t be able to find your Threads account here, as it’s linked to the Instagram account you signed in with.
After a flood of user feedback, Instagram chief Adam Mosseri has stated that they are "looking into" a way to individually delete a Threads account without it impacting someone's Instagram account. However, at this time, if you don't want others to see your Threads content, you can only deactivate your Threads account or delete your posts on the platform.
The Threads 'Delete Account' option in Meta's Account Center is only accessible if you select the Instagram account that is linked to Threads. There is no dedicated option that will only delete your Threads profile without deleting your Instagram profile.