The short answer to your question is Yes. The reason why is the block in question is nothing more than the single line:
( sleep 1s; xinput --enable "$1"; ) &
spread over multiple lines. It simply executes (and backgrounds) the sleep
and xinput
commands.
The two primary compound commands written over multiple lines you will see are:
(list) ## and
{ list; }
The distinction between the two is (list)
is executed in a subshell environment and variable assignments and builtin commands that affect the shell's environment do not remain in effect after the command completes.
{ list; }
list is simply executed in the current shell environment.