It should. Although the Linux I use is Debian based and yours is Arch based. You will likely have to build it yourself. Shouldn't be too hard and the documents that come with Simh are very thorough.
I have SimH on a Manjaro install on my Pinebook Pro, it's in the Pacman repository. To install it you'd just need to jump into terminal and run
Bash:
sudo pacman -Syu simh
There's also a fork if you feel comfortable building it yourself (quite easy to do) with many more simulators. Not necessary if all you want is the Altair emulator, but worth mentioning.