dnd 5e – Can I counteract a subtle spell without a material component?

1 reaction, when you see a creature 60 feet from you casting a spell

Can I counteract a creature that completely eliminates the component requirement?

Subtle spell
When you cast a spell, you can spend 1 spell point to cast it without any somatic or verbal components.

If the spell is subtle So, can I see what is being thrown to counteract it?