No it doesn’t.
AVB is only supported by the Thunderbolt chipset, so you require a Thunderbolt to Ethernet adapter.
The Belkin USB-C to Ethernet enumerates as a USB to Ethernet adapter, and the USB interface on the Mac cannot handle AVB.
I have tried both the white and black versions, they are exactly the same.
I have searched for a true thunderbolt 3 (USB-C) to Ethernet adapter but have not found one. The only way currently is to use a Thunderbolt 3 to Thunderbolt 2 adapter and Apple’s Thunderbolt to Ethernet adapter. This allows me upto 128 x 128 audio channels in the MacBook Pro 15 2016.
I am not sure if one of these Thunderbolt 3 docks with Ethernet will work, haven’t tested it.
