yes yes and no?

If you want take the risk of it being heavily felted, say yes to hot wash and dryer.... if you are willing to take the risk of a mild felting, then cold wash and cool dryer

I sometimes require felting, sometimes it is already perfect but understand that I may need to wash it in the future. Rule of thumb for any material: Wash it before you sew in the same way you intend to wash it after you sew (some may not agree but for me this works).

I wash it by hand and let it dry on the line