Short Answer
No. Crimson Desert does not have a transmog system. There is no way to overlay the appearance of one armor piece onto another, and you cannot hide individual gear pieces from view. Your character's visual appearance is always determined by the equipment currently equipped.
What Is Transmog?
Transmog (short for transmogrification) is a feature found in many RPGs that lets players change the visual appearance of their equipped gear to look like a different piece of gear. This allows you to wear the best stats while maintaining the look you prefer. Crimson Desert does not include this feature as of the current version.
Available Appearance Customization
While transmog is not available, the game does offer several ways to customize your character's look.
Dyehouse
The Dyehouse lets you change the color of your armor, weapons, horse caparison and armor, and even the paint on your War Robot. You can select individual parts of a piece of gear (chest plate, leather straps, ornamental design, frills, and so on) and apply different colors to each.
The first Dyehouse you encounter is at Hernand Farmhouse, south of Hernand City. Speak with Theoric to dye your gear.
You can craft dyes at a cauldron (not a cooking pot). A cauldron is available in Hernand, in the building north of the Rock, Paper, Scissors minigame area.
Vendor-sold dye colors must be learned first. After buying or finding a dye, open your inventory and use the item to permanently unlock the color.
Barber Shop
The Barber Shop at the Greymane Camp allows you to change Kliff's facial features, hairstyle, hair color, and other appearance details. This lets you re-customize your character after the initial creation.
Workaround: Fashion Versus Stats
Without transmog, the only way to maintain a specific look while keeping strong stats is to find armor pieces that happen to both look the way you want and provide the stats you need. As you progress through the game and unlock higher-tier gear, older fashion-friendly pieces will fall behind in stats.
Some players choose to keep a set of visually appealing gear in their inventory for towns and social situations, then swap to their best combat gear before heading into dangerous areas. Given the limited inventory space, this approach requires careful slot management.
Community Requests
Transmog is one of the most requested features in the Crimson Desert community. Many players have voiced the desire for a system similar to what other RPGs offer, where any unlocked armor appearance can be applied to any equipped piece. Pearl Abyss has not confirmed whether transmog will be added in a future update.