It at least used to break it and not work. They may have updated it since I have last used it.
Here is their doc on functionality - https://support.office.com/en-us/article/capabilities-of-built-in-mobile-device-management-for-offic...
I can tell you fingerprints specifically are not listed.
Looking through common forums/databases I found a few references confirming my testing from a few years ago that it did not work - https://answers.microsoft.com/en-us/msoffice/forum/all/fingerprint-auth-for-android-phones/1a7b8fe0-...
I did find one more recent article that says it works, but in passing as a "you can use iphone or android fingerprint" - https://support.netdocuments.com/hc/en-us/articles/115003628506-Mobile-Device-Management-Security
I will say Microsoft is normally pretty aggressive with updates around MDM and security the last few years, so it would not surprise me at all if this functionality has been added.
I dont have an android to test for you, but I would just create an MDM policy for one user and give it a try, or if you have the basic o365 support package, open up a case and see if premier can answer. Baring that, hopefully someone who actively uses an android will see this question and help us out.