Yes. You can change the online/offline status for your printer in your Princh admin panel.
You can disable the printer yourself in the Admin Panel via the "Printers" menu item on the left. If a user tries to print to a printer that is deactivated, they will get a message that it is not possible because the printer is out of service. When the printer is working again, you simply enable it in the Admin Panel again.
Follow this guide: