Not exactly, but in Layout setup, you can disable this feature by clearing the show field frames when record is active check box.
I don't seem to find that checkbox. I looked for it in the inspector.
When I was taking a course I remember that our teacher showed us how to avoid all the fields being showed with a the dotted line except the one that is currently being entered.
Open Layout Setup...
THis is not in the inspector, it's a menu option and you can also open it by clicking the pencil button next to the layout drop down in the status area.