Yes, it is possible to assign licenses to a group.
Say, you have purchased 5 licenses and would like to assign licenses in one shot.
The admin will be able to achieve this by creating a security group with the required users and assign license to the group. All users who are part of the group will get access to the visual.
Refer here to know about security group maintenance from Microsoft.
Note: The number of users in the security group cannot exceed the number of (unassigned)licenses purchased.
FAQs:
Do you have any queries regarding security group maintenance?
Contact Microsoft support