Archive Manager does not actually uses any particular version of SMB. This is lower down in the OSI stack and Archive Manager makes a call to the OS which in turn uses the required protocol to address the storage.
Archive Manager 5.3 supports Windows Server 2008, 2012, 2014 and 2016. Hence, it transparently supports the SMB versions on these Windows Server versions.
During installation, Archive Manager will create several shared directories such as data (C:\Dell\ArchiveManger\Data) etc. and these are based on Windows Server SMB protocol. If the file sharing functionality is broken, Archive Manager will definitely be impacted.
File sharing protocol is fairly low layer and thus, transparent to Archive Manager. If SMB is to be disabled, the administrator needs to ensure that file sharing functionality is not affected.