Nope. I've been suggesting that for years as a better interface for both "lasso" selections and cutting paths.
Such a function could be leveraged for other features, too. For example, imagine integrating it with Symbols. You're drawing a map. You have a Symbol of a tree. You draw a path in the shape of the forest, and issue a command to randomly position any desired number of Instances of the Symbol.within the path. (Compare the speed and ease of that to the tedious and difficult-to-control Symbolism tools.)
You can do cumbersome workarounds, but so far, any I've come up with proove too sluggish. For example, you could semi-automate this with a combination of Script and Actions:
1. Draw a path.
2. Fill it with a Pattern Swatch (or Create Object Mosaic)
3. Expand the fill (or Ungroup the Object Mosaic)
4. Replace the resulting Groups (or Object Mosiac paths) with Instances of a Symbol.
5. Use the Random setting of Transform Each to somewhat "randomize" the placements.
But even that does not guarantee intersection with the original path.
I have used similar routines to script the creation of pseudo halftones and diffusion dithers. But for much detail the scripts are very slow.
Selection Options could be improved.