I’m going to have to go with “no, it does not” as my answer, but you can try it for yourself.
First off, the cmdlet documentation says you can specify a probe type, but not what the probe types are. This is an unfortunate oversight, considering that you can’t use the cmdlet without it. However, a little more digging turns up a troubleshooting article that says you can do it like this:
[PS] C:\>Test-OutlookConnectivity -ProbeIdentity 'OutlookMailboxDeepTestProbe' -MailboxId email@example.com -Hostname betabasement.com
Sadly, when I do that, all I get is an error:
WARNING: Could not find assembly or object type associated with monitor identity 'Outlook.Protocol\OutlookMailboxDeepTestProbe\PAO-EX01'. Please ensure that the given monitor identity exists on the Server.
This duplicates results reported by fellow MVPs Paul Cunningham, Brian Ricks, and others; I’m mentioning it here to help make the community aware of the issue, in the hope that it will soon be fixed in CU2. If you’ve been able to get it to work, please let me know in the comments.