Not really....at least it is not a shebang line at all (in this sense I was referring to it - see the linked article). The shebang line is the first line of a script that identifies the program to execute the script.
The line you provided above appears to be a path from a configuration section of the script - without seeing the script and/or knowing what it does (or what is asked for) I don't know if it is "correct" for the script or not.
That accurately describes the full path to the .htpasswd file in the admin directory of your domain's cgi-bin directory. I have no way of knowing if that is what it should be or not-that depends on what your script is looking for. .
If you can't figure it out, it would help others help you if you provide a url to the script/instructions you are using so we could look at it.