Sadly, not by default. There may be an addon that does this but all the information about it is in japanese so I’ve never been able to get it to work 
This feature has been in Zbrush for like 10+ years and works perfectly though. Is this UV texture to mask sculpting techniqe possible in Blender? - #4 by smws
Now the general idea of using a uv mapped image to displace geometry does work with the displacement modifier but initiallly you’ll probably find it a bit unintuitive and it’s annoying that you can’t just do everything in sculpt mode.