Yes, but it has the limitation that it can only automatically update apps that it installed. So if you've already installed an app through the F-droid app, you can either uninstall and reinstall an app using NeoStore or manually do the first update through NeoStore and then all subsequent updates will be automatic.

This is the reason I use NeoStore to install apps like NewPipe on my family members' phones. Before, when Newpipe broke they wouldn't know how to update it, now it just stays updated all the time.