More than that. To be legal, it has to be installed in accordance with the relevant installation manual, and there are requirements that the old 121.5 ELTs did not have to meet. For instance, the ELT has to be mounted to primary structure, not the skin as was common with the old units, so a custom bracket has to be designed and made and installed. Without that, the ELT may not activate. The mount has to be able to withstand a 100 pound force in any direction with no more that 0.1" deflection. The antenna mount has to withstand a 20 pound force. A remote switch/warning light must be installed. A buzzer must be installed near the ELT.
I have found numerous 406s way outside the requirements. Beats me why an owner would pay nearly a thousand bucks for one, then cheap out on the installation so it has little chance of working when it's needed.