Any surface treatment will cover a laser engraving, obviously. It depends on the thickness of the coating, the prep process and the depth of the laser engravement if you can still see or feel the engravement afterwards.
I do laser engraving. It depends on the depth of the engraving. I do depth engravings that customers cerakote over with no problem. But It can also be a surface engraving such as annealing or a frosting like you see on an anodized surface.