Does Spider-Man: Far From Home take place in an MCU multiverse

Or should we say Spider-Verse. The latest trailer for Spider-Man: Far From Home, which piggybacks off of Avengers: Endgame and Thanos’ Snap, claims that Jake Gyllenhaal’s Mysterio isn’t a villain — but instead, a hero from another world in the Marvel Cinematic "multiverse." Can we trust him?

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Are the Spider-Man films in a completely separate universe from the MCU? Should I watch the Spider-Man films separately before the MCU timeline films? - Quora

Does the multiverse introduced in Spider-Man: Far From Home exist? - Quora