No. The Orion platform is useless for Patch Manager. The only thing it does really is contain the MMC for PM. If you have no other modules its not even worth wasting a DB on installing it.
The optional web console (that can snap into an existing Orion console) can be useful as a slightly more graphical reporting mechanism, but the report/info there is not configurable...it just provides a decent amount of summary information about the WSUS machines/updates. It is a read-only view, and the reports included there would not address the information you are looking for.
You might wish to create this report definition and see if it helps you out. When you run it it will prompt you to enter the WSUS Target Group name that you wish to filter by. After you type it you have to hit OK twice for some reason ( i think that is a minor bug). The updates that show as Not Installed for that group are the ones that have evaluated as applicable but are not currently installed.
You'll create a new report (suggested name: Computer Update Status for selected WSUS Target Group) and add the fields listed, but when you add them make sure you are adding all of them (including the one in the 'filter criteria' section) from this datasource: Computer Update Status with Approval Information