Unfortunately, no. From what I’ve heard, you’d need to do 2-3x more cycling volume to get a similar training effect. Weight-bearing activities recruit a lot more muscle which is more specific to mountaineering.
You can read more on specific training.
If you hope to achieve your best Skimo results you need to be training with full weight bearing exercise. While we understand the appeal of cycling, and for some injured athletes it is the only alternative, it cannot compare to the overall training loading of running and the other methods we recommend below. Even in walking the forces through each foot/leg/hip musculoskeletal structure is about 1.5 times body weight. When running, even at moderate paces, these forces increase to 2-4 times body weight.