Hi
I haven't heard anyone saying it wouldn't. I have said several times here that because of Windows background I generally don't recommend two security programs running at the same time (like Norton and McAfee - but thats a different post!). However the plugins are a little different in that I think as long as you don't try to have both do the same job you should be ok. I did find this article from a poster here, but it requires membership.
https://safewp.com/1866/avoid-wordfence-and-ithemes-security-conflicts-05-14-2014-training-replay/
I'll leave this open to the community to see if anyone else wants to weigh in.
tim