Assuming that you want the entire 16:9 screen "filled", then yes, almost every current VP will give you the choice of:
a) Zooming the entire 2.35 image to fill the 16:9 screen. (This will cut off the side edges of the 2.35 original but everything remaining on screen will appear normal.)
b) Stretching the 2.35 image vertically to eliminate the black strips on the top and bottom. (This will display the entire 2.35 area of the original, but since the aspect ratio is changed everything will look distorted with actors appearing abnormally narrow and tall, for example.)
FWIW, option "a" above is the typical solution for broadcasters when 2.35 films are shown on HD (16:9) channels since the edges that are discarded typically do not contain the main action or characters. Meanwhile, and alternatively, a film "purist" would tell you to sit back and enjoy the film as the director intended, black bars and all.
Hope this helps.