They seemed very ambigious about it for years, but from a quick search their most recent statement from this year in their documentation goes as follows, stating Core Web Vitals is being used by their ranking systems:
“What aspects of page experience are used in ranking?
Core Web Vitals are used by our ranking systems. We recommend site owners achieve good Core Web Vitals for success with Search and to ensure a great user experience generally. Keep in mind that getting good results in reports like Search Console's Core Web Vitals report or third-party tools doesn't guarantee that your pages will rank at the top of Google Search results; there's more to great page experience than Core Web Vitals scores alone. These scores are meant to help you to improve your site for your users overall, and trying to get a perfect score just for SEO reasons may not be the best use of your time.”
I think it's fair to say it is a ranking factor, just not a terribly important one.
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