Theoretically it should.
Be aware that as it's stated in the Release Notes the device fission is experimental and you might have inconsistency in your results.
We would be glad to hear your feedback about experience with this feature.
Thanks for the good question.
In Intel implementation sub-devices share memory resources of the parent device, the exception is NUMA aware systems wherein implementation may try to locate memory objects on the appropriate NUMA node.
Sub-devices are using separate execution units, in the CPU device those are different HW threads.
According to the spec programs shouldbe compiled separately for each sub-device; however, implementation may have single program for all sub-devices of a parent device.