Yes if the CD player has an output that is compatible with the input on the DAC/CD player you want to interface with.
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I can't recall anyone ever mentioning that they had a digital input added to a CD player that didn't come with one from the factory. I'm not saying it's impossible, but I would think that some people would have spoken about having done it if it were practicable. Now that I think of it, Musical Fidelity put out a bunch of expensive CD players with bad, irreplaceable transports and they had to be thrown away when they failed, as I recall.
I asked the folks at Resolution Audio if they could add a digital input to my CD-50. They told me it could be done but they weren't enthusiastic about it. My impression was they were busy and just not interested in devoting the time it would take.
As for changing out the transport, if you can find one it a piece of cake.