Question about Cooler Master MasterBox Lite 5 RGB

Yes it's possible, but very awkward as you have to mount the cooler from the inside through the case fans which is a bit tricky. I would recommend the 120 as it can easily be mounted on the rear fan and you get more of the LEDs, which don't really come into their own in my build.
Another option would be to remove the three case fans and just mount the HYPER radiators. I wouldn't recommend this, as there is already little air coming in through the small openings.