Yes. Though the chat template doesn’t tell LM Studio to offer the little dropdown. You can bodge the template in the load parameters.

Unsloth Studio / Desktop has it working really well with their version of the weights.

So it can be disabled on 27B after all? I haven't downloaded 3.8 27B yet, but the announcement made it seem like only the hosted Max can disable thinking, and with the open weights you could only select between provided reasoning efforts.