This is possible in principle. On the master, as on most X570 boards, a BIOS update can be made without installing the CPU (quote from the Gigabyte homepage: Q-Flash Plus Update BIOS Without Installing CPU, Memory and Graphics Card).

However, this should be done BEFORE installing the new CPU, GPU, RAM (details under "Using Q-Flash Plus" in the manual). It might be a bit more unusual and complicated than a normal BIOS update, because the whole thing takes place in a blind flight.