Yes. If you are using PCNFS to mount an NFS exported directory on a Windows client host then ONTAP will grant access based on the export policy.
If you are using SMB to map a network drive on a Windows client host then ONTAP typically ignores the export policy and will grant access based on the share ACL. You can enable use of an export policy on the SMB share, for an added layer of security, using the "-is-exportpolicy-enabled true"option of the "vserver cifs options modify" command.
This is covered in the ONTAP Security and Compliance Solutions Administration course.