Sure, you can set say a 3* differential and then place the probe in a thermowell and place that in a container of water. The water will approximate the temp of your beer and won't change rapidly. I can't remember which side the differential is on, but let's say the low side: That means that you set it for say 38* with 3* diff. It will run to 35* and turn off. It won't turn on again until it hits 38*. I might have that backwards, it might run to 38*, climb to 41* then turn back on. Either way, as long as the temp can't swing 3* in 4 minutes, you have a short cycle delay.
I have the probe in my big fridge in a gallon of water to help keep it from running too much.