Yes, you can run just about everything in the simulator, including the new lighting features (assuming you have Xcode 16 beta 4/visionOS 2.0 beta 4). The big exceptions are AR features like planes/mesh/image/hand/etc. tracking.
The up-to-date requirements are listed in the release notes post here (although it mistakenly says Xcode 16 beta 3–it should be beta 4, which was just released). Instructions for the template are here (although that mistakenly says Unity 2022.3 LTS–it should say Unity 6000).