I discovered the answer to my question… it is “YES”. HTML code is required in order for a hyperlink to work within an annotation. In my case, I had some text within an annotation, and then added a URL… and it essentially then just treated it as some additional text.
SUMMARY: If you are having problems getting a hyperlink to work within an annotation… delete all existing text, and then copy and paste in your desired URL. After you then save and exit the annotation… it will then autogenerate the proper HTML code, and you should then see something like this: “
<a rel=“nofollow noopener noreferrer” target=”_blank"href=“http://xyz.com/”>http://xyz.com/