Yes, like Dwayne says.
You can make a dynamic Mask, but for something like this, that would be overkill. A disc with a Holdout BSDF, just behind and Parented to the rim would be the easiest way.
If it’s going to be a 360° rotaion around the wheel, you’d probably have to change the psition of the Holdout disc halfway through, but that still beats a dynamic Mask.
