Yes, it is common to do this in ConfigMgr although it's debatable whether this is the best way to do it; it all depends on admin intent and where the processing is best performed at.
With both ConfigMgr and Intune, the use of requirement rules can and should often take the place of service-side targeting rules. This moves the processing to the client removing the burden from the server while accomplishing exactly the same task (once again, depending on exact admin intent).
In this case, the requirement rule is a simple script to detect whether the app is installed. You can then deploy the app to all in scope managed Windows endpoints.