The answer is YES.
Its usual in the industry that we have parts that change their shape when they go into an assembly. Simple examples are O-Ring, Spring.
For such Items ProE has a flexibility option that allows us to modify the dimension or parameters to make a deformation in the component. For simple parts, if you take little bit extra care in modelling, these are sufficient.
But there are other cases like Bellow for example or say a copy-geometry part from your supplier, in which you really cannot model in such a manner.
Suppose you want to bend the component. The most flexible way is to make a UDF which makes use of SPINAL-BEND. (Insert -> Adavanced -> Spinal Bend). The key here is to get a parametric curve that simulates the final shape.
Please make a note of my other post on UDF. When creating the UDF, make it driven by a set of Feature Parameters and you can place the UDF in any such model (let that model be parametric or not) and it will bend for you... for sure!!
have fun in bending things in ProE.