Sure.
First, you should go to your template folder via ftp,
Go to or create a folder called html,
Go to or create a folder called com_k2,
Here you will want to copy the folder "default" and its contents from Components > com_K2 > templates > to the new folder you created above.
So now you should have /templates/{your_template}/html/com_k2/default on your server.
Open the file category.php.
Remove line 112-115:
<!-- Subcategory more... -->
<a class="subCategoryMore" href="<?php echo $subCategory->link; ?>">
<?php echo JText::_('K2_VIEW_ITEMS'); ?>
</a>