It uses the list/manifest of installed modules which is written by the module’s make install process which is independent of what you use to install. So long as you’re not (say) copying things into the lib hierarchy by hand it’ll find things.

Edit: Afterthought if you’re asking can cpanm install a bundle module list generated by CPAN . . . That’s actually an interesting question and I’m not sure. The bundle pod is written into the .cpan config dirs and I don’t know if minus can/would look there; but if it (App::cpanminus) can handle them I’d bet it would. Personally when using this feature I’m bootstrapping a new Perl install and I’m expecting minus to be one of the things to get installed by said bundle so it’s not anything I’ve tried.