Yes and No. This is a bit confusing because of the terminology. The title field in the document properties is a static property of the PDF. The “title” referred to in the Acrobat Preferences is the text displayed on the document tab and on the Acrobat “title bar” when the document is current. Notice that this setting is in the “Open Settings”, the Acrobat title is set when the document is opened, or selected as the current document. The Acrobat preferences are in general meant to only affect values in Acrobat. They do not affect values in the PDF being displayed (except in some cases).
The title field in the PDF is set when it is created, or at some later time by the user or a tool. So it is possible to force the value of this field. This line of code will do it. Run it from the console window or an automation script.
this.title = this.documentFileName;