Maybe - but if so, unless things change a good bit, some conventional truths will have to give way....
First, in recent history the Heisman hasn't gone to the best football player in the country but rather the best player on a title team (or at least highly rated team - which in the playoff era would presumably mean top 4 playoff team). Jackson appears to be the best player - but is he so far the best they'll give it to him if Louisville isn't in the playoff?
Second, the committee gives deference to conference championships. The ACC, SEC and Big 10 champions are in, and PAC 12 too if Washington keeps impressing. Even if Washington stubs a toe, if they are a 1 loss team with a conference title and Louisville is a 1 loss team without a title, my guess is WU gets the nod. Only way I see Louisville in the playoff is if Clemson spits the bit and loses twice.
So, agreed, he's the best player - but winning the Heisman is an uphill battle for him if Louisville isn't a playoff team, and Louisville getting a playoff berth is an uphill battle unless Clemson drops 2.