Instead of raw M3U, use the Pluto TV Kodi add-on from the official Kodi repository. It provides full channel browsing, guides, and playback without needing a playlist file.
A standard M3U file gives you the channel, but you don't know what is playing. pluto tv iptv m3u playlist link
Yes. Open VLC > Media > Open Network Stream > paste the .m3u8 or .m3u link. However, you will only get that single channel, not the whole guide. Instead of raw M3U, use the Pluto TV