Yes, it's possible. Apple site (http://support.apple.com/kb/TS1539) says:
"Symptoms
When trying to sync iPod, change iPod settings, or restore iPod from within iTunes you may see one of the following error messages:
"The iPod "Customer's iPod" cannot be updated. An unknown error occurred (-50)"
"The disk could not be read from or written to"
"The iPod "Customer's iPod" could not be restored. An unknown error occurred (1418, 1429, 1430, 1436 or 1439)
[...]
Solution 2
This symptom may also be caused by software applications which change the appearance of Windows XP. Try deleting or removing any third-party Windows OS skins, Windows themes, or desktop mods that are installed to resolve the iTunes Error -50 issue when syncing your iPod to Windows XP.