Yes, open Edit → Preferences → General (Ctrl+K)

And turn on "Use Precise Cursors"

This will change your tool tip to cross-hairs:

 GIF

_{This applies for all of the tools.}

Also, to quickly toggle it on/off just hit Caps Lock

Yes, open Edit → Preferences → General (Ctrl+K)

And turn on "Use Precise Cursors"

This will change your tool tip to cross-hairs:

 
GIF

_{(This applies for all of the tools.)}

Also, to quickly toggle it on/off just hit Caps Lock