Yes you can. Most USB solutions do not support 96/24, but some do. Audio Midi will tell you when it recognizes the device. Toslink does support 96/24 if your DAC does.
The thing that's a bit frustrating is that you ideally want Audio Midi set to a lower sampling rate (24 bit is okay, however) when you playback redbook CD files. You don't have to, but I think the sound quality is better (not everyone agrees). Which means going back into Audio Midi to change that setting and then, if you are using iTunes, closing and reopening iTunes to make sure it adopts the new settings. I am hopeful that Apple or someone will make these steps unnecessary with a future software upgrade.
The thing that's a bit frustrating is that you ideally want Audio Midi set to a lower sampling rate (24 bit is okay, however) when you playback redbook CD files. You don't have to, but I think the sound quality is better (not everyone agrees). Which means going back into Audio Midi to change that setting and then, if you are using iTunes, closing and reopening iTunes to make sure it adopts the new settings. I am hopeful that Apple or someone will make these steps unnecessary with a future software upgrade.