Yes — they come from the same root system of Chinese metaphysics. Traditional Chinese Medicine (TCM) maps the Five Elements to organs, emotions, and seasons. BaZi maps them to personality, life events, and timing.
This is incredibly useful. If your BaZi chart shows a Wood imbalance, TCM would point to the liver, tendons, and the emotion of anger. The two systems validate each other. Many practitioners use BaZi to anticipate health stress years, and TCM to address the physical side.