Yes.  I have created the ODBC DSN and tested the connection to the Teradata server using a .udl file.  So the connectivity works.

When I create the linked server in SSMS, I receive this error:

The OLE DB provider "SQL Server" for linked server "(null)" reported an error. One or more arguments were reported invalid by the provider.

Cannot obtain the schema rowset "DBSCHEMA_CATALOGS" for OLE DB provider "SQL Server" for linked server "(null)". The provider supports the interface, but returns a failure code when it is used. (Microsoft SQL Server, Error: 7399)