I'd say no? You can't divest yourself of SCs in any Diplomacy variant I know of. You could always just not take the build and postpone it indefinitely. Maybe it'll help if I use a variant as an example.
So if it existed in geramyn 1648: http://vdiplomacy.com/variants.php?variantID=36. Every player would be eligible to be elected, and a player would get one vote for each of the following territories they control: Electorates of Saxony and Brandenburg, Archbishoprics of Cologne, Mainz, and Trier, Kingdom of Bohemia, and UEP. If you own multiple, you get multiple votes. Austrian Habsburgs begins as Holy Roman Emperor, and gets an extra SC. After two years, an election is held, and every player with an electoral SC gets to place a vote for anyone. Whoever receives a plurality wins. If there's a tie, whoever was HRE last year remains HRE. Otherwise, the SC switches hands between retreat and build phases. The SC can't be entered or built in, and only players who haven't been defeated can be elected.