The answer is, “Sort of.” Before I explain, here’s a brief reminder of what that feature is, why it was so well-loved in Windows 8.1, and what aspects of it have come back now.
An extremely popular feature of Microsoft’s consumer cloud storage offering in Windows 8.1, OneDrive Placeholders allowed a user to view all of their files stored in OneDrive on any device that used their Microsoft Account to log in. When a user viewed their OneDrive files locally, every folder and file in the OneDrive account was displayed in File Explorer. It was a nice way to see what files you had stored.
There were options to choose which files to download and store locally; a user had to make sure they did this for any files they would need offline access to. You could select individuals files or entire folders to make sure they were stored on the physical hard drive.
As development of Windows 10 was nearing its initial release in June 2015, Microsoft announced that this feature would be deprecated and removed from OneDrive. Instead, Windows 10 users would be able to see their OneDrive contents via a process called selective sync. Windows 10 users were not pleased with the news: more than 26,000 users upvoted a request on the OneDrive UserVoice site to add the feature back to Windows 10.
With selective sync, the user would decide which folders and files to sync locally on their device but any other items that were in their OneDrive cloud storage would not be visible on that device. It was either/or — either the file was there on the local drive and therefore visible in File Explorer or if it was not synched there was no evidence the file even existed unless you used the OneDrive UWP app or viewed your cloud storage through a web browser.