No. Ranked choice voting does not advantage one political party or faction over another. It’s why cities and towns with Republican, Democratic and Independent majorities have adopted it. It’s why Republicans parties, as well as Democratic parties across the country use it.
Ranked choice voting can influence who decides to run for public office. It can influence how candidates interact with (more) voters and govern as elected leaders (coming to the middle to find common ground). It does not help or hurt the electoral chances of any party.