Yes, Dolby AC-4 natively supports Dolby Atmos and can deliver the Dolby Atmos experience using a number of different coding techniques.

• For example, when producing live sports events there are typically a limited number of objects, such as PA or dialogue feeds and the scene ambience from the field, that are fairly static in nature. In this situation, it may be preferable to use a channel-based immersive mix (for example 5.1.4 channels) to deliver a Dolby Atmos experience. Dolby AC-4 uses specific coding techniques to efficiently encode channel-based immersive content.
• For production of non-live theatrical, episodic or music content where a larger number of dynamic objects are typically used, Dolby AC-4 supports delivery of object-based immersive audio that includes dynamic changes in object position and other rendering parameters. Dolby AC-4 supports delivery and rendering of these objects to consumer devices.

To learn more about AC-4, please refer to this article or visit Dolby AC-4 FAQ.