No.
No, no, no, no, nonononononono.
And furthermore: NO!
It's pointless, stupid, and adds nothing. What would prison do? Break the flow of the story if you're into that, and break the flow of gameplay six ways from Sunday.
They tried it in Mafia II and I didn't like it then, and I wouldn't like it now if Rockstar shoehorned it into GTA V.