For Media Server Studio, no. We have more details here: https://software.intel.com/en-us/forums/intel-media-sdk/topic/735307
For Windows client Media SDK, the answer is yes.
As stated in the release notes: https://software.intel.com/sites/default/files/mediasdk_release_notes.pdf
Hardware acceleration is available through hardware implementations of the
Media SDK Library coming with Intel® IrisTM and HD Graphics Driver for
Microsoft* Windows* 7/8.1/10 on platforms with: