Yes. Waharaka Thero has explained it the following way:
A householder or a layperson cannot bear “the Arahanthood.” One must become a bhikkhu and wear the yellow robe within 7 days of attaining Arahanthood.
– The following is an analogy: A heated heater coil will be fine as long as it is submerged in water. If that heater coil is taken out of the water, it will burn.