No, the Steam/GOG version is a straight port of the DOS version and can't be modded easily. The open-source "Ur-quan Masters" version is based primarily on the 3DO version, which had voice acting, a few reworked music tracks, and slightly better graphics. The open-source version also incorporates bug fixes and further improvements (you can search the starmap with '/'), adds net melee, and is the best one overall, plus it's free. Recommend you play that one.

If this is your first time playing the game, I reccommend using the 3DO musical remixes but not the more recent ones (some are good, but it's very uneven).