No way! Unlike the 90s Flash or Birds of Prey, Smallville is far too complex of a fandom to merge with the Arrowverse. Smallville has its own Multiverse (with numbers differing from those of the Arrowverse), along with conflicting endings to that reality, especially if you factor in the Season 11 comics. Not to mention it's unclear whether or not Arrowverse Earth-167 is the indeed the same Smallville Earth from the 10 seasons or if it's a merely a very similar, but different, universe with a Clark and a Lois who happen to look identical to their "main" Smallville counterparts.