Aerial can have a bare neutral but not in conduit, regardless type of conduit. There?s no way to contain current on a bare conductor in any type conduit therefore a bare neutral in conduit will violate 250.6 & 310.2, at minimum, (Article 200 does not specifically permit the grounded conductor to be bare inside a conduit).
We are charged to install correctly and safely items intended in the use of electricity. Current must be contained on properly sized and installed conductors to be safe. And again Article 250 gets very specific regarding bonding the grounded conductor.