I don't think so. Hair is notoriously hard to simulate well. Even in a simplified equation where each strand can only bend at one point in one direction, you have the effects of momentum, gravity, wind, and animations all comming into effect on thousands of individual stands, not to mention strand-on-strand action. On top of that, all these strands will individually deflect light, causing an extra surge in GPU load due to extra processing of the resulting shadows (especially if the engine isn't smart enough to treat hair as a flat object in this regard).
Hence why no ones bothered with a PhysX implementation of hair. Hair is hard.