Yes. Payment restrictions will be applicable for the orders placed through admin panel as well when payment restrictions are created using MageDelight's Magento 2 Payment Restrictions Extension.

Read this guide on How to Restrict Some Payment Methods in Magento 2 to setup this extension.

Here are the few more resource to help you get most out of this Magento 2 Payment Restrictions Extension.

• How to Disable Payment Method for Certain Customer Groups in Magento 2
• How to Disable a Payment Method Programmatically in Magento 2
• How to Restrict Payment Methods by Attribute/Category in Magento 2/a>
• Streamline Your Checkout Process with our Payment Restrictions Extension for Magento 2