Not quite. You can make a transition longer than 1 bar but you have to hold the pedal down for the transition from the start of the transition to the last bar of the transition.
eg. Two bar transition. Press and hold pedal for transition 2 bars before you want to transition and let go in the next bar.
Four bar transition. Press and hold pedal for transition in the 4th bar before you want to transition, Hold for three bars and you can release in the last bar.
You can do it but it is awkward.