Was not sure if one were to cerakote or hydrodip a receiver if it is acceptable to do so after the engraving.
Since the engraving is fairly shallow, could any cerakote or hydrodipping so call "cover it up".

I’d say after

Cerakote afterwards, it is extremely thin

FWIW, I had mine done on an already cerakoted receiver; no issues.

Properly applied, Cerakote is 1-2mils thick.  Minimum required ATF rules for serial numbers and stuff is 3.  If the engraving is done to the minimum, and the Cerakote is applied properly, it should still be visible.  Now, if you're doing a pattern in Cerakote, you may end up with multiple layers which eventually adds up.  As both a laser engraver and Cerakote certified finisher, I tend to make sure the laserings are done nice and deep so that it's still very distinct after coating.

Eliot