Yeah, it should.
All MY2020 530e will have the larger battery and iDrive 7 and they started producing those in July. An August order should be just getting manufactured around now (my August 5 order was manufactured on September 3).
What I haven't yet seen a lot of information on is how much of a boost in real world range this has added. But I think only 1 user on the forum as obtained a MY2020 530e so far.
https://g30.bimmerpost.com/forums/sh....php?t=1636374