Looks like yes, but with a twist.
In an apparent effort to distinguish its Atlantis-related universe and characters, Marvel seems to be introducing Atlantis, but under a different name – Talocan – in 'Black Panther: Wakanda Forever'.
Earlier, it was revealed that Namor – Marvel's aquatic superhero from Atlantis – is going to sport a look that is slightly different from what we've seen in the comics. In the MCU, Namor is going to rock an Aztec-like outfit, and it looks like Atlantis is overall going through a rebranding inspired by Aztec culture.
This decision is apparently justified by Marvel's push to be different from DC's Aquaman and Atlantis. And it looks like fans are generally on board with the rebranding.
"It was a great decision because now Namor/Talocan feel very much like their own thing. The art direction of that part of the movie—and really, the movie in general—looks amazing." – /regmckie
Talocan is an aquatic Aztec paradise, and the change in Namor's lore is not only a twist that differentiates it from DC but also a nice nod to actor Tenoch Huerta's Mexican heritage.
It's unclear, however, whether Atlantis is fully replaced by Talocan in the MCU, or the former will be mentioned at some point.
"I wonder if they'll use the name Atlantis at all throughout the movie. Maybe in the MCU, Atlantis is just a myth based on the real civilization, Talocon." – /Apocalyptic_Horseman
Generally, Marvel has received a lot of accolades for its representation efforts recently. 'Black Panther' is a nod to African culture, while 'Shang-Chi' and 'Ms. Marvel' provide some Chinese and South Asian representation respectively.
Namor and his civilization will be first introduced in 'Black Panther: Wakanda Forever'. The movie hits theaters on November 11, 2022.