No it is not. The best you can do is to send a bogus value to the dataset
you don't want to run so that it returns 0 records. Keep in mind that
although Reporting Services creates a one to one mapping between query
parameters and report parameters you can change this to an expression. In
the dataset go click on ... go to the parameters tab. Create the expression
for one of your query parameters that causes it to return 0 records when you
are not displaying it. In this way at least it will execute quickly.