Absolutely yes. VWO requires only your root domain and works as long as the root domain is the same.
For example, you want to create a Split URL test for a website www.example.com (which is your control version). The variation you create for the test is www1.example.com. In this case, your test will work on both the domains because the root domain of both is the same, that is, example.com.
NOTE: You don't need to enable the Campaign involves multiple domains option while creating a test on sub-domains, as explained in the example above.