On its own, this statement is false because wiping or tracking a lost device is unrelated to a device's email clients or email configurations. If the corporate device has a Mobile Device Management (MDM) solution installed and configured, this would enable to IT to remotely configure things like email settings and remotely wipe a lost or stolen device. However only having an email configuration is insufficient, and the question does not state an MDM solution is used.
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What is Mobile Device Management (MDM)?
How does remote wiping work?
Why can't email configuration alone allow for remote wiping?