Yes it will work...
Video Card:Intel UHD Graphics 630VRAM Type:Integrated
Details:This model has an Intel UHD Graphics 630 graphics processor that shares memory with the system.
Also see: What type of video system is provided by the Aluminum Mac mini models? Which are integrated and which are dedicated? Can the video be upgraded?
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Standard VRAM:1.5 GBMaximum VRAM:1.5 GB
Display Support:2-3 Displays*Resolution Support:5120x2880*
Details:*This model supports "up to" three displays. It can support either (1) two displays up to 4096x2304 at 60 Hz via Thunderbolt 3 and one display up to 4096x2160 at 60 Hz via HDMI 2.0; OR (2) one display up to 5120x2880 at 60 Hz via Thunderbolt 3 and one display up to 4096x2160 at 60 Hz via HDMI 2.0.
The Thunderbolt 3 ports support native DisplayPort output using USB-C as well as Thunderbolt 2, DVI, and VGA output with adapters. In addition to HDMI, the HDMI 2.0 port supports DVI using an HDMI to DVI adapter. All adapters are sold separately.
2nd Display Support:Dual/Mirroring*2nd Max. Resolution:4096x2160*
Details:*Please refer to the earlier field for details, but if the primary display is 5120x2880 via Thunderbolt 3, the largest secondary display this system can support is 4096x2160 via HDMI 2.0. It also can support two 4096x2304 displays via Thunderbolt 3 and a third display up to 4096x2160 via HDMI 2.0.
https://everymac.com/systems/apple/mac_mini/specs/mac-mini-core-i5-3.0-late-2018-specs.html
Check compatibility
Studio Display requires a Mac with a Thunderbolt 3 or Thunderbolt 4 port running macOS 12.3 or later, or an iPad Pro or iPad Air with a USB-C port running iPadOS 15.4 or later.
Compatible Mac and iPad models
Studio Display supports a resolution of 5120 x 2880 on these devices:
Set up and use Apple Studio Display - Apple Support