Well, yes. This was claimed:
Six anonymous lawsuits were brought against Combs by Tony Buzbee, a personal-injury lawyer out of Houston who’s been soliciting clients through a hotline... All six complaints share the same introductory section, which features a claim that Combs’s now-notorious baby oil may have been laced with drugs.
The complaints allege that Combs “particularly fancied the use of the popular date-rape drug Rohypnol, or GHB, to commit heinous non-consensual acts of sexual violence and rape against countless victims.” (Rohypnol and GHB are not the same drug, though the complaints appear to use the terms interchangeably.) The complaints go on to allege that Combs would “use the drug in an alcoholic beverage served at his parties,” sneaking doses into drinks provided to his victims.
The Cut
...While narcotics and baby oil were both mentioned separately in the federal indictment against Combs — prosecutors claimed that both were seized from his homes in the federal raids — there were no details about the baby oil being laced.
There are a couple more details in The Cut article you pulled this headline from, some of which corroborate these claims of drug lacing and others that may contradict them. I imagine as criminal proceedings, well, proceed, we'll get to know more about this particular detail.
There are a few other outlets reporting on this — none of which I'd particularly trust for genuine reporting, most being entertainment gossip rags — but there's no way to know this soon if the actual allegations are true or false. However, yes: it is true there have been allegations, and these claims should be duly investigated.