Yes.

Flyertalk, and the Internet writ large, are full of advice on doing exactly this. Heck, do a random search on most (all?) airline sites for award flights and the default is to offer flights on both their own metal and their partners' metal.

Why assume that better award travel value is to be had by transferring to and booking on an airline's own metal (i.e., "direct") vs. a partner's (i.e., "indirect")? In fact, it is often quite the opposite. For example.

• the sticky on the Virgin Atlantic (VS) forum dedicated to booking tickets on All Nippon Airways (ANA, or NH)
• this page on One Mile at a Time, "9 Of The Best Sweet-Spot Airline Awards" such as using Alaska miles on Cathay

As always, YMMV, as may your willingness to find availability and figure out