Yes. SafeNet Inc. has released driver version 7.0.0, which fully supports Windows Server 2003 and is WHQL certified. Install the driver on all Windows Server 2003 machines running the ArcGIS 9.x or ESRI 8.x License Manager. Download the driver using the link below.
The ArcGIS License Manager Patch and the ArcGIS License Manager install in ArcGIS 9.2 and automatically include versions of the Sentinel driver that support Windows 2003 Server, so no additional driver downloads are needed.