A:Answer The easy answer: The LG model OLED65C1PUB that I have in my possession purchased a month or so ago, does NOT.
Now, the details: The LG OLED65C1PUB, as are other LG OLEDs, is a computer running WebOS with a high resolution OLED display. All functions within are based on programs or Apps running on that computer. For LG, the "picture-in-picture" App is called "Multiview." It has been installed on earlier model LGs and was removed for some reason in 2020. It may return at some point with an update or a later model. If it does, it should be accessible via the "More Actions" menu found via the "..." key at the lower right of the remote's number pad. I could not find any details as to why LG stopped publishing the Multiview App.