Yes it should be possible. The -G in grdtrack has been aliased to grid in PyGMT, though it’s not appearing in the docs. For example, the GMT command like:
gmt grdtrack ridge.txt -Gspac_33.nc -C400k/2k/10k+v -Sm+sstack.txt > table.txt
would look like this in PyGMT:
pygmt.grdtrack(points="ridge.txt", grid="spac_33.nc", crossprofile="400k/2k/10k+v", stack="m+sstack.txt", outfile="table.txt")
See also code at https://github.com/GenericMappingTools/pygmt/blob/v0.7.0/pygmt/src/grdtrack.py#L329 where this is being handled.