Yes. There are two methods of doing this:
1) Open %YourEQFolder%/eqclient.ini. Ensure
UseLuclinElementals=FALSE is FALSE.
2) After you have accepted the outdated EQ TOS, before logging into your account, select "Game Options", which will minimize EQ and take you to a menu similar to the one found
here. Ensure Horses & Elementals is unchecked. Click OK and go back to EQ.