To utilize pitch correction included in many of the presets, yes, although it is not required. You can simply disable the instance of Waves Tune Real-Time and utilize the rest of the vocal chain processing.
Make sure that all Waves plugins have been scanned and validated for use in your DAW. You may need to rescan all Waves plugins for them to show up in StudioRack. Here are the steps to do so in various DAWs:
The presets in Vocal Chains V3 contain effects such as stereo reverbs, stereo delays, stereo doubling and other stereo enhancing effects that must be routed through a stereo output. You can still utilize a mono vocal recording routed to a stereo effect plugin or aux without issues.