Yes, it is possible to some extent. Conjunctiva is the membrane overlying on sclera and inside of the eyelids. What we called pinguecula is the yellowish or grey bump or spot on the sclera, usually in the corner near to nose. Sometimes we can find it growing as a bump. It is the degeneration of Collagen fiber on conjunctiva. Actually so far, the exactly reason for pinguecula is still not clear. According to reliable researches, it is more common for middle aged people. And the people who are living in sunny and windy places are more likely to develop it. Some essays said wearing contact lenses might cause eye inflammations which makes it a higher risk to develop pinguecula. Because the pinguecula might develop into a bump on conjunctiva, it would irritate the conjunctiva lining inside of eyelids. It might give people uncomfortable feelings like there is some object in eyes. Normally it grows very slow, and brings no other bad effects on vision but annoying. Don't wear contact lenses for too long time per day any way, it will irritate the conjunctiva and cornea.
Actually the rates of pinguecula are much higher in contact lenses wearers compared to non contact lenses wearers (Hard contact lenses being the worst). There is an article by Mimura et al. 2010 (https://www.nature.com/eye/journal/v24/n11/pdf/eye2010120a.pdf) that shows some graphs where they compared the percentage of pinguecula (with different grades of severity) in people from different age categories who wore contact lenses or not. Pinguecula increases with age, but also with contact lenses duration of use. Maybe the use of contact lenses is not the sole cause of pinguecula, but it definitely increases its risk.
Pinguecula is a conjunctival tissue on the surface of the eye, which caused by aging or eyes lengthy exposure to sun and wind. For I know that there is no contact with pinguecula and wearing contact lenses. You can still wearing contact lenses for you get pinguecula. You can ask your eye doctor for the pinguecula treatment if you get pinguecula.
Eh, it is possible to get pinguecula by wearing conatct lenses, however, the rate is not high. A Pinguecula is a yellowish nodule on the surface of the corners of the eye, frequently seen after middle age. A Pinguecula results from damage to the conjunctiva. Frequent exposure to sunlight, or by exposure to toxic vapours, salt water spray, dust, wind or insufficient lubrication of the eye, all of which can damage the conjunctiva. Contact lenses often have too much germs and bacteria though you wash hands before wearing them. So wearing contact lenses has certain possibility to get pinguecula.