Yes, the Product Label Magento 2 Extension provides the capability to assign product labels to specific audiences based on store views or customer groups. This targeted approach lets you tailor your labels to different segments of your customer base.

Read this guide on How to Create and Configure Product Labels in Magento 2 Store to target specific audiences with different product labels based on store views or customer groups.

Here are the another useful resource to help you.
1. Maximize Conversions With Our All-new Magento 2 Product Labels Extension.