My knowledge regarding these things is extremely limited, but, I think so,
if you use the right hardware. There are users (currently quite active in the "JRVR testing" thread) who are extremely well versed in all of the intricacies surrounding this subject.
I chose the i5-11400 processor. The system is connected to a four or five year old LG TV via HDMI, using an HDMI 2.0 cable, and is running Intel UHD graphics 730. It's all at pretty much default settings as my ignorance means tinkering will almost certainly go horribly wrong and it all looks, well, "wow".
The TV shows an "HDR" flag in the top right corner when the system boots, if that's any help
Apologies for being so vague.
They have this advice in their product information:
HDMI Version - This is self explanatory, an 11th Gen CPU supports HDMI 2.0 which provides resolutions up to 4096 x 2304 @ 60Hz. A 10th Gen processor supports HDMI 1.4 which provides resolutions up to 4096 x 2304 @ 30Hz. The DisplayPort resolution is not affect by the CPU. Therefore if you 100% need a 60Hz 4K resolution from the motherboard then the best choice would be an 11th Gen CPU.