Yes, and no. There is no grouping/category setting. Instead you can use the attributes of the item, including tags to create a searchable context. By using the search box in the top of master item list you can easily filter and limit the current view. Generally, I find this a more agile approach as it removes the administrative task of organizing items.
You can achieve this by using tag feature with Dimension that your going to group and added in the master item.
just need to tag the relavent dimention with the same name while adding in Master item as dimention.
Business user can search the particular grouped tag name in use assets panel of master item, it will be going appear all the dimension that consists of the particular tag.
Add master dimension with Tag.. you can use the same tag name with other dimension that you want to group
Searching for the dimension with tag name: result will be displayed that consist of taged dimensions
if you found this helpful, please mark helpful or correct.