Does PS SPO Command NotifyOwnersWhenInvitationsAccepted work on site invitations?

We have site collections with external user invite enabled, the external user and inviter both receive an email notification for the invite, but currently there's no email notification when the external user registers an account (aka, accept invitation).

This command [-NotifyOwnersWhenInvitationsAccepted <Boolean>] was found for https://docs.microsoft.com/en-us/powershell/module/sharepoint-online/set-spotenant?view=sharepoint-ps, but it only states notification when an external user accepts an invitation in OneDrive/OneDrive for Business. 

Question: Will enabling this apply to invitations sent to external users for a SPO site?