Unfortunately, no – the connection to the stream itself and the parameters (both ‘track’ and ‘follow’) are not independent of each other. In other words, to update or change these parameters, you’ll need to disconnect and reconnect for any changes to take effect.
Alternatively, the enterprise PowerTrack APII does have the concept of a separate “rules” and connection endpoint. This would provide the functionality that you’re asking about.
Hope this helps clarify things.