Yes and no.
No, there’s not something built into the plugin as a limiting factor (so you couldn’t just apply something in the settings).
Yes, there are plenty of action and filter hooks in the plugin that would allow you to apply something of this nature. As far as building in some custom validation of this nature, you’d probably want to focus on the wpmem_pre_register_data action hook (linked below), which can be used to validate the user during registration and either allow it to proceed or halt it based on your criteria:
https://rocketgeek.com/plugins/wp-members/docs/filter-hooks/wpmem_pre_register_data/
