ELK stack does not provide monitoring. It only provides reporting unless you configure additional add-ons such as ElastAlert.
ELK also only reports (or alerts if configured) on the data that you feed into it. So to turn the question around:
Do you have your network devices configured to send micro service and network latency logging information to your ELK stack?
If yes, then the answer will be yes. If no, then the answer will be no.
ELK is nothing more than a system for processing and reporting metadata and generating structured data from plaintext logs, so it will do whatever you configure it to do.