Yes this technique also works for Vimeo iframes, but I still found Vimeo embeds affecting Lighthouse performance results quite hard (about 30% on mobile).
There are a couple of reasons for this: Their player.js and the vimeo iframe itself, loads yet more scripts and css that delays the page rendering.
I've got a couple of little tricks to fix this.
Vimeo uses their own player.js. You can load this once instead and force it to defer or async the script and remove it from any embed pastes.
Vimeo added a defer technique for their iframe scripts and CSS you can enable.
Here is an example:
<iframe loading="lazy" data-vimeo-defer src="https://player.vimeo.com/video/148751763?badge=0&autopause=0&player_id=0&app_id=58479" frameborder="0" allow="autoplay; fullscreen; picture-in-picture" allowfullscreen title="You'll never guess what this video is!" ></iframe>
With this added, everything Vimeo does is deferred or asynchronous and no longer blocks page rendering. I've got my mobile and desktop scores to 96% and 100% after fixing Vimeo.