Based on anything currently known about them, an educated assumption would be that it should still work.
Reason I say that is that both essentially cause vellus hairs to rejuvenate. Since a transplant is taking hair follicles from one location and putting them in a spot where none are present, I don't see how existing or transplanted hair would get in the way of the product working as that hair will be affected by the product just the same.
It's possible that there is something currently unknown to us that means transplants could pose an issue, aside from scar tissue, but that remains to be seen.