Answer
No — Conditional Formatting as a client-side mechanism isn't available in IFS Cloud, so any rules built this way on Apps10 or earlier don't carry forward; this is worth flagging explicitly before an upgrade, since the underlying formatting logic will simply be lost rather than migrated. If similar step/status-driven behavior is still needed after upgrading, it has to be rebuilt using Cloud-native mechanisms (for example, a custom field capturing the relevant approval-step status, referenced by a Page Designer condition), not carried over automatically.