Yes it can. Here are some instructions
1. You can use ERP Archiver to extract the texture files you need from official teams' liveries (the .dds files), save them somewhere.
2. Use EasyERPExplorer to create a new mod
3. In EasyERPExplorer, navigate to myteam .erp files you wish to replace (eg. myteam_ferrari.erp) then click on it to extract files to your created mod.
4. There will be a "textures" folder, find a livery file you want to replace with the official one (eg. livery_butler_<d|s|m>.dds). Rename and copy files from step 1 over.
5. Delete all other texture files, leave only modified .dds files (livery_butler... files).
These are only brief instructions, this app is only helpful if you already know how to create mods manually. But I hope it helps