Yes, that is possible!
There is two options here, local or dedicated server.
You can start a local server from the game's UI. The server will be up aslong as you are running the game. When you close the game the server closes.
A dedicated server is basically the server without an ui (so it just starts a console and runs on the background without rendering the game for you). This would be accessible 24/7 as long as your pc is powered on and the server is running. I don't currently know how to run one on windows though, i know it is possible but I havn't done so for ages.