Well, kind of. In C++ you have two ways of adding libraries to your app, either via static linking (which takes a .lib / .a file during compilation and embeds this into your app or via dynamic linking, which compiles a .dll / dylib which is loaded on runtime). There's also a third way, which is simply taking the source code of your effect and add it to your compiled plugin before compilation (this is why there is the AdditionalSourceCode folder in every HISE project folder, which is the least painful option (the other two ways both have severe disadvantages which go beyond the scope of this answer, but there are plenty of resources on the inter web).
I'd suggest you start with compiling a .dll for your effect (this step is required anyway in order to use the effect in HISE during development). When you're ready, you might want to try compiling a static library or embed the source code directly, but prepare for nasty issues like standard library incompatibilities and compiler flag mismatches.