Yes, you can use Code P in 1099-R and it will not be treated as income.
1. If you haven't filed your 2021 return yet, you can report it now and ignore the 1099-R you receive later (unless there's Box 4 Federal Tax withholding and/or Box 14 State withholding.).
Then you must enter 2022 1099-R into the 2022 tax return since the withholding is reported in the year that the tax was withheld.
2. If you have already filed your 2021 return, you can wait until you receive 2022 1099-R in 2023 and amend your 2021 return.
