No, this switch does not exist (until CMake 3.15, see my other answer).
If a project uses the install command, it generates the target install. You can call it with
cmake --build . --target install
This uses CMake’s Build Tool Mode, which is an abstract interface for a couple of commands to the native build tool (e.g. make or Ninja) and can also be used to pass arbitrary arguments to the native build tool.