Yes. The only big thing is not to use the Real Stars option.
However, for really tiny universes (<2x max jump points, 24 stars?) you are best off using SM mode to build the universe yourself. Otherwise you risk everything jump connecting to everything else. First randomly generate all the stars, next grav-surveying everything, then link every jump point to an existing star, and finally destroy any extra unconnected jump points that might lead out later.
It is a lot of work so save a copy of the database so you can reuse the micro universe later for another game.
When ready to start a game, spawn a new Player Race for your side that won't have full universe knowledge and then spawn however many NPRs you want at whatever locations you desire.
The last time I did something like this (60 stars, 3 NPRs) I ended up with this:
