It is permissible in principle. So without any restrictions this problem is not interesting. One could write a formula
\[
a_n=
\begin{cases}
-1&n=1\\
5&n=2\\
-17&n=3\\
65&n=4\\
a_n=1&n>4.
\end{cases}
\]
It specifies a valid function from natural numbers to natural numbers, and its values for $n=1,\dots,4$ are as required.
A specific problem may impose restrictions on how the function (i.e., the sequence) is specified. For example, it is possible to require that the expression specifying $a_n$ uses only addition, subtraction, multiplication and division. Then one solution is $a_n=22 n^3-146 n^2+290 n-167$ (it does not even use division). You can verify that $a_n$ are as required for $n=1,\dots,4$.
It is also possible to ask for a shortest expression. This problem may be interesting, but I haven't seen something like it.
One can do something silly such as changing an expression $E$ to $E+1+\dots+1-1-\dots-1$ where all 1's cancel. Strictly speaking, this expression specifies the same function, but it is a different from $E$. But one can also use write expressions such that proving their equality to $(-1)^{n} (4^{n-1}+1)$ would require highly nontrivial mathematics.
In some sense, but it is still infinite. An infinite set $A$ may be a subset of another set $B$ and yet have as many elements as $B$.
For each sequence (function) there is an infinite number of formulas (expressions) that specify it. Also, there are infinitely many sequences with a given initial finite segment such as -1, 5, -17, 65.