Answer
Yes, via a combination of a custom event, a custom API action, and a Report Rule: create the label as its own report using the same source view as the operational report; add a custom database procedure that builds and submits a new print job for that label report (using the framework's Client_SYS attribute-building calls together with Archive_API and Print_Job_API to construct and submit the job, targeting the relevant printer); wire a Custom Event on the underlying record, triggered on the same event that causes the operational report to print, to call that custom procedure via a Deferred_Call, passing through whatever key fields the label report needs; and finally add a Report Rule that automatically routes the label to the correct physical/logical printer whenever it's generated this way, making sure that printer is also registered in Print Agent so the label actually prints.