Nope. Illy hasn’t got that feature but there’s still a way:
Draw a regular rectangle.
Draw a circle with the same radius as the radius of the inverse rounding.
Snap its centre to a corner of the rectangle.
Duplicate it 3 times for the other corners.
Make a compound path of the 4 circles.
Select all and Pathfinder (panel) Minus Front.
Sounds laborious maybe but it only takes a jiffy.
Just copy it from ID and paste it in AI.
It is plain folly that Illustrator still does not provide dynamic corners except for its quaint Round Corners effect.
You still have to buy plugins to get the capacity you're looking for.
Years ago, whenever a similar question was asked, I provided some Graphic Style libraries which contained a couple of Appearance palette tricks. I don't do that anymore because it's outworn.