You can refer to the following link for a list of microcontrollers supported by Simulink: https://www.mathworks.com/help/mcb/supported-microcontrollers.html
Additionally, you may find the below links useful for implementing the described use case:
- Product Requirements & Platform Availability for Navigation Toolbox: https://www.mathworks.com/support/requirements/navigation-toolbox.html
- Product Requirements & Platform Availability for Sensor Fusion and Tracking Toolbox: https://www.mathworks.com/support/requirements/sensor-fusion-and-tracking-toolbox.html
- Modeling Sensors: https://www.mathworks.com/help/fusion/sensor-models.html
- Calibration and simulation for IMU, GPS, and range sensors: https://www.mathworks.com/help/nav/sensor-models.html
- Sensor Fusion and Tracking Toolbox: https://www.mathworks.com/help/fusion/
- Navigation Toolbox: https://www.mathworks.com/help/nav/
Hope this helps!
