No, even with its large almost iPad mini-like display, the iPhone Max does not support the Apple Pencil. The iPhone XS Max boasts the largest iPhone display ever at 6.5-inches, making it only slightly smaller than the iPad mini at 7.9-inches. There have been rumors that Apple is working on a smaller stylus that will work with future iPhone models. Many industry insiders believe that the next-generation iPhone Max will replace the iPad mini, and be the first Apple handset to feature Apple Pencil support.
As of right now only iPad Pro models and the current 9.7-inch iPad support the Apple Pencil.