Yes—if you’re a service-area business (you visit customers and don’t serve walk-ins), you should hide your street address and list your service areas instead (cities/postcodes; keep it sensible rather than nationwide).
If you have a storefront or hybrid setup that customers can visit during stated hours, keep the address visible—Google expects the location to be staffed by your team and clearly signed.
PO Boxes and virtual/coworking addresses aren’t eligible unless your staff are there during business hours with proper signage. You can update this in Google Search via Edit profile → Location: toggle “Show business address” on/off and add service areas.
For multiple genuine locations, create a profile for each staffed site. Hiding your address doesn’t remove you from local results; your biggest visibility levers remain accurate categories, proximity to the searcher, steady reviews/citations, and on-page relevance.