VLANs work.
Regarding full hardware support, for the stock OpenWRT unfortunately the answer is "no", but this missing support for NSS cores (i.e. hardware NAT offloading) only matters if you have more than 800 Mbps connection. Also, please follow this topic: Ipq806x NSS build (Netgear R7800 / TP-Link C2600 / Linksys EA8500)