Yes, it is possible. If you want to consider only weekdays, you can use the following workflow conditions:
For example, to send an email to a contact three weekdays before the deal’s close date, you must set up the condition under Entry Criteria as 'Expected Close Date - Week Days Later - 3'.
In this case, workflows exclude non-working days based on what is specified in the business hours.
To learn more about workflow conditions, click here.