Yes. In the manner it’s done on your interface.
This is what’s sometimes referred to as direct monitoring mode or similar.
The signal is played directly by the interface on top of REAPER. This is to avoid the latency you would otherwise get as the signal goes into the DAW and is then played back by the DAW. Ideally then the playback of the guitar from the DAW should be off while recording so you only hear the direct signal.
This is sometimes useful if you have high latency. Latency depends on different factors, the chief one being the settings on your interface. You can set it to have low latency but this can introduce playback errors such as stuttering or garbled sound if the system can’t keep up. Another source of latency is some plug-ins that are not “zero latency”. It might be because they are older or just does certain things. If you set the interface to high latency the sound will be fine but instead you get a delay when recording. This can be annoying to some more than others.
So it’s a balance.
As you get more experienced you will start to figure out your own way to deal with this balance.
You can read up on it here:
https://support.focusrite.com/hc/en-...nd-iTrack-Solo