No, you would need to separately purchase a Project Plan 1, 3 or 5 license in order to access Planner Premium: https://www.microsoft.com/en-us/microsoft-365/project/compare-microsoft-project-management-software. If you'd like to try Planner Premium before purchasing you can also start a trial by going to: aka.ms/tryprojectnow. Thanks for the question Rich and I hope this helps!

It is not. Please check out feature capabilities available across subscriptions here: https://learn.microsoft.com/en-us/office365/servicedescriptions/project-online-service-description/project-web-service-description.