Short answer; no.
There have been numerous tests and articles which show that, because it is so common that links are blue (even though this isn't necessarily the best color to use for a link), people will treat blue text like a link, and will get confused by this.
It will especially be bad for your website's user experience if you use blue-text links in other parts of your website.
This article tells us never to use the same color for non text-links, as you would use for text-links.
You should generally avoid color for text unless it's a link.
What you could also use from this article is that you generally don't want to underline text which isn't a link either. Instead use italic or bold to emphasize text, maybe you could apply this instead of changing a color.
Also, this website tells us using blue as a text-link is very conventional. Users are very used to this and will use (this type of) color in content to scan it. Because people are used to this color, there is little to no learning curse and people will generally understand that blue text, is actually a link.