Yes — Apple TV 4K supports Audio Sharing: two pairs of AirPods or Beats connected at once, each with independent volume. Apple TV HD does not support it.
Requirements: Apple TV 4K (any generation), and both headphone pairs must be Apple/Beats models with the W1, H1 or H2 chip (AirPods 1st generation and later, AirPods Pro, AirPods Max, and compatible Beats models).
How: while something is playing, press and hold the TV button on the Siri Remote → Control Center → the audio/headphones tile at the top right → Share Audio → bring the second pair near the Apple TV and follow the prompts (a button press on the case may be needed).
Caveats: personalized spatial audio is not available while two pairs are connected, and each listener controls their own volume, transparency and noise-cancelling settings. Headphones belonging to iCloud family members can be detected automatically.
Sources: https://support.apple.com/guide/tv/atvb1f60d443/tvos
— Osnivo Editorial