Yup, sure does!
Even 5G too
Refer to this post https://forum.xda-developers.com/t/volte-and-vowifi-in-australia.4095097/post-84111603
For those who are no longer able to change the profile (as per above post) after upgrading to Android 11, see here for workaround:
I was able to use QPST and PDC on my OnePlus Nord (AC2003) when it was running Android 10 / Oxygen 10.5 After this weekends update to Android 11 / Oxygen 11 my phone is no longer recognised. I've tried all sorts of USB drivers I could find using...