There is (at least) one company providing this kind of services. They tag in the movie all the content with timestamps, and can provide it to a player to skip or not depending on the tag (nudity, violence, etc.).

As far as I know, it was manual, but that was already a few years ago.

I don't remember the name of the company, but surely it can be found and there are probably multiple such providers. The service was provided to TV operators (satellite, cable or pay-TV) to include in their set-top boxes.

PS: of course, as sjcsjc mentioned in a sibling comment, it immediately gives the idea to many people to only show those parts :)