Is it safe to use a polyurethane faux beam to hide an asbestos insulated (and wet-wrapped encapsulated) heating pipe?
By "wet wrapped" can we assume you mean that the asbestos insulation was wrapped with a rubberized gauze and sealant system that keeps the asbestos in place and encapsulated? If so, the faux beam is fine for cosmetics, it's that wet wrap that is going to protect you from exposure. It's actually a good idea to cover that to help prevent the wet wrap from being physically damaged and exposing the asbestos layer underneath.