I would say probably not. Its not so much the adaptor as the board has no NVMe support. Im seeing an M2 option with a hyperkit in the PCI slot but no reference at all to what type of M2 devices are supported. Most first generattion Z170 boards didnt have support for NVMe drives, just SATA and some AHCI. Usually the manual will state what its capable of, with this Im seeing U2 which is most likely SATA express and the single M2 hyper card which is most likely M2 SATA.
No documentation saying its supported usually means its not. This board was released on the hairy edge right before NVMe was introduced.
The only way I can see if it works it to try it but Im not overly optomistic and would sway to the side that nothing saying NVMe is suppoted means its not as the manual was probably composed before NVMe existed.
“Two things are infinite: the universe and human stupidity, I'm not sure about the former” ~ Albert Einstein