We can , One exchange just proved it to me . I sent them numerous address and they told me which wallet/exchange the address belongs to .
They do this to not to send BTC to darknet and blacklisted addresses. So i am being curious that how it works.
It does not always work and it only works for a select few addresses. Given a random address, it is unlikely that you would be able to identify the wallet that it belongs to.
For some addresses, you may already know who owns the address because the owner has publicly shared that they control it. From there, you can link addresses together if they are inputs to the same transactions. However this method is not foolproof and is easily fooled by things like CoinJoins.