Can I apply plugins to a clip in Cubase Artist 7?

I haven’t used Cubase for a few years, but when I used it back in the day, my favourite trick was to highlight part of an audio clip, then apply a plug-in to only that section of the clip.

I could drag to select part of a clip, right-click the selection, and a context menu would pop up with a “Plug-ins” opion. I could filter, distort, EQ, reverb just one note or drum hit in a recording - “destructively”, in the clip itself. It’s great for glitch edits and techie effects - here’s a screenshot from a tutorial that discusses the trick:

I’ve not found a DAW since that’s as fluid for doing this kind of edit. Can anyone tell me if Cubase Artist 7 has this feature? LE 7 doesn’t, as far as I can tell, but if Artist does, I’m tempted to buy it…

Thanks for your help!