Yes it supports it. This feature has been delivered in Web Agent 12.52SP1CR04 as per this Enhancement Request :
The new support for Multiple ACOs in IIS creates multiple LLAWP
processes one per WebAgent.conf (if there are multiple WebAgent.conf
configured with multiple WebSites).
This capability also extends to Agent Discovery Feature i.e. now since
there are multiple LLAWP processes i.e. one per WebAgent.conf - on the
Policy Server WAM UI under Agent Discovery we see that many Agent
Instances connecting. For Example : If there are 3 WebSites and 3
WebAgent.conf, then there would be 3 LLAWP processes. Thus on WAMUI
we'd see 3 Agent instances.
Thus it is a significant step in completely virtualizing IIS (similar
to Apache). However we are not there yet completely, since the new
feature is still limited in capability by adhering to use a Single
SmHost.conf (hence we are not at par with Apache).
Nevertheless the Technical implementation for the currently delivered
feature in R12.52 SP1 CR04 makes it very feasible / easy to Support
Multiple SmHost.conf and thus allow customers to connect each WebSites
on IIS to different Policy Server Infrastructure in future.
Single IIS Server
------ Single WebAgent Install
------ ------WebSite1: myapp.development.ca.com: LLAWP (WebAgent.conf --> SmHost.conf --> Dev Policy Server Infrastructure).
------ ------WebSite2: myapp.test.ca.com: LLAWP (WebAgent.conf --> SmHost.conf --> Test Policy Server Infrastructure).
------ ------WebSite3: myapp.production.ca.com: LLAWP (WebAgent.conf --> SmHost.conf --> Prodn Policy Server Infrastructure).
NOTE : All the necessary ingredients are in place to support multiple
SmHost.conf. Multiple SmHost.conf may work even now, just that CA
hasn't confirmed support for multiple SmHost.conf as part of new
feature supporting multiple ACOs. As part of the new feature of
supporting multiple ACOs, CA has confirmed supported only for Single