No the 737 747 777 and A330's don't have an "intercept from above" function on the MCP/FCU.
It's far from ideal intercepting from above, yes I can and do fly a raw data approaches and intercept from above but I'll stress again it's not IDEAL and indeed discouraged by most flight operations departments for obvious reasons.
Airbus, Boeing together with all Airline flight Ops departments teach stabilized approach criteria for good reasons today my friend, Airlines have learnt the hard way in the past.
Yes in the last 27 years I've had a few wake encounters, both en-route in cruise and on approach, gets your attention without doubt. A little common sense and following the rules goes a long way. I wouldn't be flying 1 dot high on approach.......just not done in the wide body I fly.