In practice: yes. In theory: no. That sounds confusing, but let us explain! In computer programs, nothing is truly random, but it is pseudo-random because a number generated by a program (algorithm) is by definition not random. That said, for 99% of use cases, pseudo-random numbers are considered random enough.
In short: yes the random spinning wheel is truly random and unbiased. Moreover, it can't be rigged! There is no way you can influence the chances of landing on a segment sooner. Changing the timing settings on the wheel will not influence the randomness in any way.