No. A device and Access Point exchange information about each other's capabilities during the connection process. The AP can communicate using the appropriate standard on a frame-by-frame basis.
That said, "slower" devices use more airtime than "faster" ones. But an AX device near the limit of its range (with a low signal level) can end up using more airtime than an AC device with a strong signal.
Bandwidth sharing effects take place only when devices are active. Idle associated devices do not use up much airtime at all.