It is, Secure boot and the TPM must both be enabled.
If you check Msinfo32 / “System Information” with admin rights, there is a “device encryption” listing that maybhave additional information.
There are rare instances where a device won’t support automatic encryption due to “Un-allowed DMA capable bus/device(s) detected” which requires a registry tweak to work around
This isn’t news, this has already been the case since Windows 10 1803 back in 2018.