No, it isn't. You can say that "He was sentenced to be hung from the neck until dead" or "he was hung at dawn". So either "hanged" or "hung" can be used for execution. However, you would never really use "hanged" in other contexts -- laundry gets hung up on the clothesline ...
The meaning of HANG is to fasten to some elevated point without support from below : suspend. How to use hang in a sentence. Hanged vs. Hung: Usage Guide