To answer your question, yes. As you most likely are aware of, under your 'Real Time Scanning' settings you can 'Boost' your protection by activating it. Should the McAfee Global Threat Intelligence Base not have a (Dat) created yet for a possible emerging threat.
It will be deemed as Unknown/Suspicious until Analyzed/Processed, and will be given the name (Artemis!).
Is it activated by default curious to know. If not what setting am I looking for under the real time scanning?
Simply open your McAfee Security Center > Navigation > Real Time Scanning > Settings > (Scroll down) and place a checkmark under 'Boost my Protection' to activate it, if not already done by (Default)
Hope this helps
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If at all McAfee LiveSafe (All McAfee Security Suites) come across a new/unverified file/process/exe that is active on a user's PC it does compare with the threat database (GTI - Global Threat Intelligence) and classifies it as a Malware/PUP or Artemis detection.
Read on this to get a detailed overview of GTI.