No, baked texture animations are more limited than normal animations; you can’t have several animations applied to the same mesh at the same time, so you can’t have transitions (unless the transition is an animation itself and not a blend!). What’s more, there’s no interpolation between frames, so the animation may appear a little choppier, depending on the framerate.
You may find this thread interesting, as @oriongu had the same problem as you:
And the doc:
https://doc.babylonjs.com/features/featuresDeepDive/animation/baked_texture_animations