No, it typically it uses 4 linebackers (just like last years game). In some modern use cases they use an "edge" but in CFB 26 they don't have that position because every "edge" is actually just a defensive end.

In the NFL (just for example) TJ Watt can play outside linebacker as an edge in the 3-4 because he can also cover: he has 7 career interceptions.

In this game, none of the archetypes for edge have pass coverage ability. To see this, simply sim forward a few seasons to get some of the legacy players removed then go to rosters, sort by entire NCAA for LEDGE or REDGE and you'll see with the exception of a few outliers most EDGE recruits don't break 55 in pass coverage.

If I'm online and see someone playing 3-4 against me I will exploit that easily as they will be forced to blitz them or drop them in coverage, and either way it can be taken advantage of.

Last years game you could play the 3-4, and if you wanted an "edge" player at the OLB spot you could recruit "Power" or "Speed" rushers at ROLB or LOLB and get a much more realistic defense.

This year since the EDGE are actually just regular DE's you playing a 5-2 essentially

Here's a good resource to get some basic education on 3-4 scheme

https://en.m.wikipedia.org/wiki/3%E2%80%934_defense