No it is not supported, but CF8 is also no longer supported by Adobe since it has also reached end of life. You could still give it a try, I know there will be things that don't work such as cfdocument, but it *may* start up and work for the most part (I haven't tried it).
I would suggest not to use newer versions of Java on an old, especially, end-of-life, version of ColdFusion. It might work, but will involve reinventing the wheel - pun intended - and will lead to unpredictable behaviour.
Imagine trying to fit the engine of a 2014 Ford Focus on to a 1925 Model T Ford. Java is called a machine not for nothing.