It can be, but you need to have a bigger eating window than most or try really hard to fit all your calories and protein into your current eating window. Maybe add in some protein shakes if you Aren’t already taking them.
And yes the hormone benefits can actually help you gain muscle without adding extra fat. But regardless you still need enough calories protein amino acids etc for your body to actually build the muscles with
You can continue to benefit from IF and build muscle only if you consume a healthy amount of calories. It’s very difficult to build muscle and be in a caloric deficit at the same time. If you want muscle, you have to eat more— there’s no way around it. Right now you’re underweight, so it’s extremely unlikely for you to gain any muscle at all unless you up your calories.