Yes, here are the steps to disable the download options:
- Click your avatar (initials on the top right)
- Click Manage Digital Hive
- Click Content
- Click on the Cognos connector to open the details screen
- Select the Settings tab
- Scroll down and click SHOW ADVANCED
- Clear the Enable Managed Execution checkbox

- Click SAVE
This will remove the ability for users to download the Cognos report output in all formats except PDF or as part of a Zip archive.