Not as i understand it.
If you purchase an ad-free license for Dolphin. It means that the main community itself will have no ads.

Ray on the other hand, being a different entity is unaffected by that dolphin license.

If you are running the free version or Ray, make sure you generate the free licenses via unity and use those. If instead you buy the ad-free version of Ray, you will use the licenses provided for that version.