Hi @abhiroopnray ,
Yes, you can connect your iMX8M Plus custom board over Wi-Fi following Android documentation in the following link:
Android Debug Bridge | ADB
In this link you will find information to connect using Android Studio but, if you want you can use the command line in your PC, with the following section:
Wi-Fi Connection using Command Line
I hope this information will be helpful.
Have a great day.
Best regards, Brian.