Yes, but it depends upon the particular type of nickel coating that has been applied to the steel.
When nickel plating is deposited by a process of electrolysis (employing an electric current in the nickel bath), the resultant coating – commonly called “e-nickel” – is always conductive and magnetic to some degree and cannot be accurately measured by our gages when applied to ferrous or non-ferrous metals.
Electroless nickel coatings are deposited by an autocatalytic process which does not involve the addition of an electric current. If the nickel bath in this process contains a minimum concentration of ~8% phosphorus, the resulting nickel plating is effectively non-magnetic and its thickness can be accurately measured on ferrous steel with a magnetic principle coating thickness gage such as the PosiPen.