Yes, it is. You need be on WFM 1.0 cu 5 level, as In CU 5 Adds support for the TLS protocol versions 1.1 and 1.2.
Description of the Cumulative Update 5 for Workflow Manager 1.0
TLS 1.2 support for Workflow Manager and Office Online Server when communicating with a SharePoint Server 2016 farm that has forced TLS 1.2 communications must be manually enabled when Office Online Server or Workflow Manager are installed on Windows Server 2012 R2. There are two requirements to enable TLS 1.2 support. First, make sure Update for Disabling RC4 in .NET TLS is installed. Second, add the SchUseStrongCrypto value.
Windows Registry Editor Version 5.00
[HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\.NETFramework\v4.0.30319]
"SchUseStrongCrypto"=dword:00000001
Import the key into each OOS/WFM server, then restart.
TLS 1.2 Support for Workflow Manager and Office Online Server