Yes if you create a function and hook it to the instant_search_res filter hook, e.g:
add_filter('instant_search_res','user_by_meta_instant_search');
function user_by_meta_instant_search($res,$q){
$user_query = new WP_User_Query(
array(
'meta_key' => 'Your_META_KEY',
'meta_value' => $q
)
);
// User Loop
if ( !empty( $user_query->results ) ) {
$results = array();
foreach ( $user_query->results as $user ) {
$results[] = array(
'title' => $user->display_name,
'content'=> get_avatar( $user->ID, 64 ),
'url' => get_author_posts_url( $user->ID)
);
}
return $results;
}
return $res;
}