Well, unless Hubitat implements Thread or Matter overall it's still just a cloud based lock for us.
I have the Schlage Connect BE469ZP Z-wave Plus lock which works with Hubitat. I chose Schlage over some other manufacturers as it comes with an ANSI Type I security rating. Most other electronic locks are rated ANSI Type II which is not as good.
I guess Schlage is trying to appeal to the Apple Homekit crowd with the new Encode Plus WiFI. Although the lock is supposed to be Thread capable, since Thread/Matter will not be officially released until 2022, it is hard to tell whether it will work with the final standard.
Perhaps one day Hubitat will incorporate the Matter protocol, but until it is finalized, there is no way of telling whether it is applicable. It seems that the focus of Matter is making theme work with cloud-based voice assistants like Amazon Alexa, Apple Homekit and Google Assistant. I suspect these three companies are providing a significant portion of the budget for the Connectivity Standards Alliance that is developing Matter.