Definitely. I just did a strength phase with a -500cal cut (as well as lower carb), and I was able to get some nice strength gains. I’d recommend cycling your calories so that your strength training days have more calories than the rest of your week, but keep the average for the week at -500 or whatever.
As for training, definitely reduce your volume and restrict your lifts to your main compound lifts (adjust both depending on your energy level and how low you go with your calorie cuts). The rest/pause and wave loading are both good choices, and I plan on using both of those soon myself.
Personally, I make my best strength gains from a very intense but low-volume approach. The protocol that’s produced the best gains for me so far (also on calorie restriction) is to do each strength lift twice a week: once with max weights and minimum reps (getting 5-12 work reps at 80% of 1RM or above, plus maybe a few lighter reps to round it out), and one higher-volume-but-still heavy (usually trying to hit a certain goal, like finishing all reps of a a 5x5).
For instance, my last heavy bench day was: a few warmups sets, then 275x3, 290x2, 300x2, 310x1, 290x3. My 1RM is around 320, so you can see I’m working close to my max.
A few days later I did a higher volume day, which was 255 for five sets of six. Both of those have a few more reps than I usually do while using that protocol–on a more typical week I’d have three or four less of the lighter reps on the first day and more like 4-5 sets of 4-5 reps on the second.
Feel free to ask questions if any of that doesn’t make sense.