Yes, the Group Folders app appears to support nested folders with different permissions set at the sub-folder level within a groups folder.
As an admin enable “advanced permissions” at the top level group folder.
This will then allow the group folder owner/admin to create subfolders with different permissions on any subfolders in the group folders app configuration.
Using ACL is possible. But you don’t need ACL to create nested groupfolders.
Just add additional groupfolders as subfolder of the existing one (within admin settings). That’s it.