Hi,
If you have an existing firewall and the traffic destined for that host is going through the firewall then naturally you can use the firewall to block the traffic. The firewall however wont be able to control the traffic between the devices in the same network.
It would seem to me though that you are probably looking for something to enable blocking connections on a certain host/PC from all but one source IP address. This would sound more like a situation where you would use some software on the host/PC itself to control the access.
Cant say much more with the provided information which was minimal.
- Jouni