Hurrah! If you have not yet heard: Exchange Server 2019 Public preview was announced earlier, and it is the first version of Exchange that you can install on Server Core!
Now, while that’s great news...
Updated Jul 01, 2019
Version 2.0
Blog Post
If not already, will the Exchange Hybrid Wizard be supported on Server Core?
At this time the Hybrid Configuration Wizard does not support running on Server Core. We are looking into supporting this in the future. This largely has to do with how one acquires and installs the wizard at this point and less about it being a graphical application. It is a common misconception that Server Core does not include a graphical user interface. It does. You can see that above in the screenshot where the UCMA installer is running as a graphical application. You can also see the command interpreter running in a resizable graphical window as well. Applications may appear different but applications which are written to use the Graphical Device Interface on Windows, will function on Server Core. You can even run Exchange Setup in graphical mode on Server Core!