Yes, you can create a Dev Container for a .NET Framework 4.8 application, After few months I found a way to do this. But there are some limitations because Dev Containers in VS Code primarily support Linux-based containers. However, Windows containers can still be used with some workarounds.

This Detailed guide on containerizing legacy .NET Framework applications with Docker, which covers simplifying IIS setup, enabling HTTPS, and debugging inside a container. You might find it helpful:

https://medium.com/@kavinduxyz/plug-and-play-net-legacy-apps-with-docker-no-more-iis-configs-for-new-joiners-fb5c3321895e