Direct answer
Yes, many sources, amplifiers, controllers, switches, and power supplies can be centralized in a ventilated equipment rack while the room shows only the display and selected local devices. The design still needs a reliable signal path, control method, service access, power, cooling, cable labeling, and a plan for equipment that requires local pairing, game-controller radio, disc access, microphones, or high-bandwidth direct connection.
Do not bury active devices in an inaccessible wall or unventilated cabinet. Confirm cable distance and format, IR/RF/IP control, Bluetooth or game-controller range, eARC needs, and how the display can be serviced. A rack improves appearance and maintenance only when the owner can still use the system intuitively and a technician can reach every component.
How this answer was prepared
Camelback Smart Homes publishes this FAQ library for homeowners, design professionals, builders and property teams comparing integrated technology. Answers begin with the practical conclusion, then explain the factors that can change it.
Limitations: This is general educational information, not a site-specific design, quote, code determination or compatibility guarantee. Final requirements depend on the property, construction, infrastructure, equipment versions and project goals.