No.
There is no functionality to specifically backup the settings data. This is mainly because as the firmware evolves the setting data format needs to be extended and or modified, so old backups could be incompatible with the firmware version in the radio.
It would be totally impractical for the CPS or firmware to be able to convert between any 2 arbitary settings versions, as there have been many changes to the settings version during the development of the firmware
You can backup the entire Flash and / or EEPROM memory in the radio and restore these, however the same problem applies regarding incompatibility and restoring the entire memory taken from a previous firmware version is likely to cause the firmware to crash.
Also backing up all 16Mb of Flash in the newer radios takes a very very long time, and in come cases the backups or restores can fail due to timeouts if the USB isn't fast enough or you get a power or RF glitch in the USB cable