No, not really.
I mean, it's a bit awkward for the first 10 minutes or so, because hey, there is a naked person in the room, that's unusual - but once you actually start drawing, that awkwardness goes away.
You stop looking at them as a naked person, and start looking at them as a collection of shapes and lines and angles. You won't be sitting there going "Uwaaaah genitals!!!!" - you'll be going "right the angle of the shoulders goes this way, and the angle of the hips that way, elbow goes there, oooh look at that radial bone", etc.
At least, that's how I've experienced it all the times I've done it. After the first 10 minutes of getting used to the idea of drawing a naked person, it's no more or less awkward than, say, drawing a house.
Based on the classes I've been in, no, not really? I've had a wide variety of models of all ages and genders, but even when we had quote-unquote 'hot people' modelling for us, there wasn't any blushing going on in the rest of the class.
And even if there was, it wasn't really a big deal?