CONFIG_ARC_HAS_HW_MPY is not available for thedefaultarchitecture x86.
Result is shown for architecture arc
default or selected kernelversion does not have config value CONFIG_ARC_HAS_HW_MPY.
Result is shown for kernelversion 6.5.1

Use Hardware Multiplier (Normal or Faster XMAC)

configname: CONFIG_ARC_HAS_HW_MPY

Linux Kernel Configuration
└─>ARC Architecture Configuration
└─>ARC CPU Configuration
└─>Use Hardware Multiplier (Normal or Faster XMAC)
In linux kernel since version 3.1 (release Date: 2011-10-24)  
Influences how gcc generates code for MPY operations.
If enabled, MPYxx insns are generated, provided by Standard/XMAC
Multipler. Otherwise software multipy lib is used