Yes, I just checked it:
pacman -Qi intel-ucode
Name : intel-ucode
Version : 20200616-1
Description : Microcode update files for Intel CPUs
Architecture : any
URL : https://github.com/intel/Intel-Linux-Processor-Microcode-Data-Files
Licenses : custom
Groups : None
Provides : None
Depends On : None
Optional Deps : None
Required By : None
Optional For : None
Conflicts With : None
Replaces : microcode_ctl
Installed Size : 3.02 MiB
Packager : Christian Hesse <arch@eworm.de>
Build Date : Tue 16 Jun 2020 07:50:07 PM CEST
Install Date : Wed 15 Jul 2020 01:42:30 PM CEST
Install Reason : Explicitly installed
Install Script : No
Validated By : Signature
pacman -Ql intel-ucode
intel-ucode /boot/
intel-ucode /boot/intel-ucode.img
intel-ucode /usr/
intel-ucode /usr/share/
intel-ucode /usr/share/licenses/
intel-ucode /usr/share/licenses/intel-ucode/
intel-ucode /usr/share/licenses/intel-ucode/LICENSE
But the odd thing:
ls /boot
efi grub initramfs-linux-fallback.img initramfs-linux.img initramfs-linux-zen-fallback.img initramfs-linux-zen.img memtest86+ vmlinuz-linux vmlinuz-linux-zen
The inel-ucode.img is not there.