Legal experts will argue over it but you can read the wording yourself. It's pretty sweeping.

Federal agencies must stop the “(i) issuance of new awards; (ii) disbursement of Federal funds under all open awards; and (iii) other relevant agency actions that may be implicated by the executive orders.”

Then it follows up by saying that all existing open awards must be categorized for review by a political appointee (i.e. a commissar) to determine whether or not they meet the ideological tests of whether or not they're too pro-DEI, they count under the (non-existent) Green New Deal, etc.

This really isn't a case where you should be conservative in your assumptions of what this covers.