it does not. you have the same options for filtering as with the Explore page – an iNat place, a box, or a circle. there’s been at least one request to add functionality to filter by a custom ad hoc area, but i haven’t heard of any movement to implement such a thing,
it may be worth explicitly mentioning that the rules include a requirement to have 50 verifiable observations before you can make a place.
there’s a fourth option, if you assume that the observations that you’re interested in will have been exported to GBIF. (for those who don’t know, iNaturalist periodically sends research grade observations which have been appropriately licensed over to GBIF.) GBIF allows filtering by a custom GeoJSON. so you could define a custom JSON and filter as needed over at GBIF. here’s a previous discussion that discusses something similar: https://forum.inaturalist.org/t/downloading-from-a-specific-inat-place-from-gbif/24259/3.