Yes. To let subscribers choose which lists they want to unsubscribe from, go to Settings > SMS > Scroll down and click the Allow MANAGE keyword toggle.
Once enabled, any subscriber can text the keyword MANAGE to your phone number. This will send an automated message with a link to all the lists they are subscribed to. They can then uncheck which lists they want to unsubscribe from, changing their status to opted out for those lists.
Note: Subscribers can't remove themselves from Planning Center Lists.