Yes it's possible.
Here's a very simple tutorial & it's how i do it anyway.
You will need 3dsimed, 3ds max & 3dsmax slrr tools.
#1 open rfactor track in 3dsimed
#2 export as 3ds file
#3 open in 3ds max
#4 re-scale everything [easier to do it all in one go]
#5 texture if needed [trees will need to be done to make them transparent you will see what i mean]
#6 export, using slrr tools for 3ds max [as .scx format]
#7 use Track Wizard [there is already tutorials to explain this part]
If you would like more detail on a certain step then just ask & hopefully i will be able to explain it decent to you.
& remember to credit the original creator!!