Yes. Before you start an async recording, you can run a quick audio test to hear how your microphone sounds. When you join an async link, you see a Let's check your devices window. check your devices, click Test next to your microphone to record a short test clip and listen back.
Note: These instructions are for when you record solo, without the Host or any Producers. If you are recording with a other participants live in the studio, the Host can start a test recording.