empdee4 said:
My question is: Can the Einstein equation with such a stress-energy be reduced to Newtonian gravitation?
The even shorter answer than the ones
@PeroK and
@Ibix gave is: no.
You asked about the perihelion precession of Mercury in the OP. That is a phenomenon that is not predicted by Newtonian gravitation. The two other classic tests of GR, gravitational time dilation and bending of light by the Sun, are also not predicted by Newtonian gravitation. (Technically, one can sort of handwave a prediction of light bending by the Sun from Newtonian gravity, but even if this is considered acceptable, it still gives a numerical value for the bending that is only half of the GR value.)
One
can use Newtonian gravity as a sort of zeroth-order approximation to GR for this specific scenario (a roughly spherical gravitating massive body surrounded by vacuum), and then get gradually more accurate predictions by adding terms of higher order. This is what the PPN formalism that
@Ibix referred to does. But this still is not the same as reducing the Einstein equation to Newtonian gravitation. In fact it is the opposite, it requires admitting that Newtonian gravity by itself is
not the same as GR and applying corrections accordingly.
If you were actually asking about a scenario where there are two or more gravitating bodies that contribute significantly to the overall spacetime geometry, then as long as the bodies are still isolated--i.e., there is vacuum except where the bodies are located and the size of the bodies is much smaller than their separation distances--there is in fact a sort of "post-Newtonian" approximation for this case as well. It is called the Einstein-Infeld-Hoffman equations:
https://en.wikipedia.org/wiki/Einstein–Infeld–Hoffmann_equations
As noted in that Wikipedia article, in the limit ##c \rightarrow \infty##, these equations reduce to the Newtonian equations for a many-body system in which gravity is the only force acting. But again, this is not the same "reducing" GR to Newtonian gravity; it's the opposite.