We do in some sense but we call it something else like 45x120 or similar. That's not 2x4" but nor is a 2x4 actually 2 inches by 4 inches generally.
But what we definitely don't do is stick build homes using 2x4s apart from interior walls. An exterior wall where I live would probably use 45x220mm studs and probably more wood as well for a total depth of 350+ mm.
