Only if the incoming PWM signal is bipolar about ground, and most aren't. As noted again in post #10, the DC offset can be +/- about GND. First thought (probably a bit weird) is to use the incoming (unipolar above GND) PWM to switch between two voltage sources, both adjustable per post #1. This variable amplitude low voltage PWM waveform is analog filtered, preserving DC accuracy, to give the bipolar DC voltage that is then summed with the input sine. One quad opamp, one voltage reference, one NPN and PNP, a bunch of Rs and Cs. Output sine with be 180 degrees shifted from input sine.
ak