Yes, you can. Select the factory CDM for your bullet. Establish a GOOD zero and MV Average for your rifle and load, and then run the MVCal procedure in the Kestrel. It will give you a distance where your bullet “should” be at 1.2 Mach (beginning of Transonic). Set up a target within 10% of this distance, but not OVER. I generally try to get one set somewhere around 90-95% of the distance given, and it has to be measured EXACTLY. Then you dial the elevation the Kestrel computes for that target, fire a group and establish the center of that group. Compare the vertical impact to the aimpoint and if it is off, measure how far it’s off in mils using your reticle. If the given solution was 14.0 mils and your group was 0.2 low, go into the MVCal menu and adjust the solution from 14.0 (calculated) to 14.2 (actual). The Kestrel will then re-adjust your solution to that curve for all target distances and it works very well.
There is a similar procedure called Drop Scale Factor for targets farther out as the bullet enters the subsonic region and the curve changes again. It is done in a very similar way, just at farther distances. So you end up with two curves being established - one for supersonic and one for subsonic. The Kestrel knows which one to use for your solution based on the target distance you input.