Well... everything is possible. But not quite you expect.
If you are under 21 you can use the automatic text in the text label, but it will also not able to show everything, like GDL parameters
You can use the IFC label but first you have to create matching IFC parameters for the GDL parameters.
I have made an MEP label with a lots of feature, there is free version also. Use that one. aclabels.net