Yes of course! There are tons of rules light osr games, where the actual rules fit more or less a page. 5e is really crunchy in comparison.
Edit, this section was added because i thought this was another thread:
Relevant to this discussion, check out Knave which has a really simple and usable encumbrance system. Basically a number of slots based on stats (I think str or con), and it uses item based abilities. So if you want to be a spell caster, you need a magical tome for each spell, which each takes a slot. If you want to be a mighty warrior who wields heavy weapons and deal lots of damage, they require more slots. Armour takes a slot. If you want to be a skill monkey, you carry equipment to help you with climbing, picking locks etc.