The short answer is no.
While in edit mode you can hide individual vertices, which also remain hidden in sculpt mode. Dynamic topology respects these hidden vertices as it is working directly with the mesh you have partly hidden.
The multires modifier works differently as it creates new vertices that are stored within the modifier, it isn't changing the existing mesh, therefore the multires doesn't hide vertices generated around the original vertices you have hidden.
When sculpting you have several options to adjust visibility of your mesh.
- AltB to make only a section of your model visible
- H to hide sections of you mesh
- ShiftH to unhide sections of your mesh
- Use a Mask brush M to paint out parts that you don't want to sculpt on
- Hide parts that have been masked out with mask brush
Using dynamic topology or multires modifier has no effect on these methods, they are always available.