Yes, any step that isn't active or complete can be deleted from a Record's timeline. To delete a step:
- Go to the Record page.
- Click on the step you wish to delete.
- On the right, click on the 3 vertical dots and select Delete Step.
- Click Delete to confirm.
If a step is already active, it cannot be deleted. You can choose to Skip that step though. For instructions, please see: Can Timeline Steps by Skipped?
Please note: This will only delete the step in that Record's timeline. It will not change the steps in the workflow configuration. For more information on editing workflows, please see this article: How to Configure a Workflow.