This answer is going to be a bit complex
First off there is no reason why you can't use a panorama head mounted off the centreline axis of a tripod as the axial center of revolution for the camera is the critical component.
However there are a few practical restrictions on the above statement, namely:
The panorama head still needs to be correctly oriented with respect to the horizon, that is level in the horizontal and vertical planes so that the images will correctly line up.
Lens choice will be critical. If a lens has a fairly wide field of view the tripod and quite likely the off axis bar will be visible if you need to shoot over them.
see note 1
Finally there's the problem of stability. In order to use an off axis panoramic setup you'll need a pretty hefty tripod, quite possibly with extra weights to ensure a stable footing. The position of the off axis panoramic setup relative to the tripod legs may be critical for stability in some cases.
note 1
Off axis panorama shots would ideally be limited to a 180 to about 220 degree hoirzontal coverage with most lenses of
less than about 80-100mm focal length in order to avoid having the tripod and or off axis mounting bar/pole showing up in the images.