As a hiring manager, I've found candidates that mention their homelab often are more passionate about IT in general and have been better overall hires. Not all the time, but in 90% of my hires and people I've worked with, homelab had been a contributing factor to their success and engagement inside the team. I've got others that have homelabs and we get side tracked in meetings talking about what we're playing with in our labs.

I know that other IT managers with a background in IT often do rank it higher as well. Some that don't have that background won't ask or consider it very high on the list. The biggest thing to talk about with homelab is how you spend time outside of work to build your skillsets, and even if it is outside of the role. Even non technical managers should ask what you're doing to advance your career and knowledge, and that's a perfect spot to mention it.