Probably yes. However the detail depends on your exact design. How are the calls coming in? At its simplest if an inbound IP call contains a dialled number that matches the destination pattern of a PSTN dial peer then that's perfectly straightforward.
How does this sound?
we are planning to create an incoming dial-peer on one circuit and then send it back out on the same router to a different dial-peer (in a sense changing the circuit)
I am not sure what we are configuring for the incoming dial-peer
for the outbound dial-peer
dial-peer voice <Number> pots
destination-pattern <digits to match>
port <define the port to send the call out on>
It's very difficult to be specific without knowing the full details. However one way would be to set the destination pattern on your outgoing PSTN dial peer to the exact number that should be rerouted. For example ..
Re-routing PSTN dial peer has destination pattern 555617
Dial peer to CUCM for the remaining numbers has destination pattern 555...
Assuming both dial peers as Up, the gateway will use the longest match.