No. On a fully managed device, both an enterprise wipe/retire and a full wipe result in a factory reset. The entire device is under management with no separation between corporate and personal data, so there is nothing to selectively remove.
Android Enterprise requires a DPC actively enrolled as Device Owner to provide management policies. Removing the DPC means removing everything, and the device resets to factory settings.
EMMs use different labels for the same underlying action. "Retire", "enterprise wipe", "selective wipe", "delete device", and "unenrol" may all trigger a factory reset on a fully managed device. Always verify what the action does in your specific EMM before running it on a production device.
The behaviour is different for other deployment scenarios:
RELINQUISH_OWNERSHIP command to convert the device to an unmanaged personal device.