Yes - the Veeam MP contains features for monitoring a Veeam Backup & Replication environment, and those features are free.
The best way to deploy is to download a free trial of Veeam MP, and use the installer to deploy. You will get a free 30-day trial of all Veeam MP features - including hypervisor (VMware or Hyper-V) monitoring and reporting.
After the trial expires, you can keep just the Veeam Backup monitoring and remove the other components.
Of course, we hope that after 30 days, you will have seen the great benefits of the Veeam MP for managing your virtual environment, and will be tempted to purchase that