Assuming you’re referring to Figma’s Type settings: Vertical trim: Cap height to baseline, then unfortunately no, Sketch does not have the equivalent of this option.
I will pass your message on to the product design team as a feature request though.
Like Brett said, there isn’t an automated way to do this. However, with Sketch you can measure the distance between the text letterforms themselves and any other layer using a combination of ctrl+option+command. Doing that will ignore the line-height when measuring distance. So, this may be useful for what you are trying to accomplish.