Does the 2017 iPad model support the Apple Pencil?

No, Apple's 9.7-inch iPad released in 2017 does not support the Apple Pencil stylus. The Apple Pencil only works with Apple's current iPad Pro models (9.7- and 12.9-inch). The "low cost" iPad is a entry level replacement for the iPad Air 2. It is built with recycled hardware to keep it cost low and it does not include new features, such as Apple Pencil support or a Smart Connector.