According to the Unity Hub release notes, there is a headless mode since version 2.1.
However, starting the Hub with the --headless option still shows the window. This is impractical if you want to use the headless mode to install the necessary Unity version(s) from a build or bootstrap script. I tried running it from Cmd or Powershell with or without admin rights:
"Unity Hub.exe" -- --headless editors
With Unity.exe, the -batchmode option completely hides all UI during a build.