As Aymen pointed out you can use that icon to directly link to the SIwave project. And yes, in that case SIwave will directly provide the Circuit tool in AEDT with the solved s-parameters from the SIwave project. But to go back to the initial question, yes the circuit tool can handle s-parameters directly without having to convert to an equivalent circuit model. If you the "Nport" icon in the Component Libraries window, that will allow you to point to any arbitrart s-parameter file. Touchsone files are the most common ones used for this.Â
Best regards,
-Dan
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