Yes and no
We don't have much micromanagement as we focus on conquest so your population simply grows and develops on its own. But you have to colonize systems and apply improvements to the worlds they contain beyond that though yes they grow and produce on there own.

i was hopping for the game to play it self. well im going to wishlist it and check out the game on youtube.

Much of the videos on YouTube are from earlier in the Early Access phase so check dates. We are in the process of preparing a few developer introduction videos that will have raw game play and commentary a bit like a lets play ... but ya from a dev

The goal of HE's Terran, and the one thing that Terran pilots truly live for, is to have glorious space battles with rival factions. As such, we've made sure that the game puts very little between you and those glorious space battles; you won't spend your whole time managing planets or dealing with diplomacy.

However, as Loden DarkStar points out you will need to decide which planets to colonise, where to build your Citadels and space stations, what to put in your fleets, and all those other kinds of tactical decisions. After all, battles are often won or lost in the planning phase; having the game do all of those tasks for you would mean that as a player you're just left to smash ships together. That's not as much fun as watching a well-crafted plan come together, seeing your influence reach out to surround an enemy and cut them off from escape, or literally writing your name across the stars (trust me, that's a very Terran move hahaha!)

So, the core gameplay in Terran is already a very lean, stripped-back version of the 4X genre, unlike say Stellaris there's not much need for automated assistance because there's not really much to automate. Allowing for, say, automatic colonisation of planets could easily lead to the AI making silly decisions that mess with your grand strategy (figuring out the best times, places and methods to expand is one of the strategic elements to the game, and each faction and playstyle will have different parameters for this); allowing for automated fleet production could likewise mean you end up with the wrong fleet composition for your plans or even that your fleet out-grows your ability to support it and you start taking penalties as a result.

As a Terran pilot, you'll mostly spend your time giving orders and moving on to the next task, rather than managing how your underlings actually accomplish those orders. Using your Gar's abilities can speed things along if you desire (e.g. boosting population growth or harrying an enemy fleet while a newly-conquered system builds its defences), and that's probably the most micro-manage-y part of the game, but it's entirely optional and it's very "active" (you're taking your avatar ship around the map to deploy its abilities rather than, say, spending that time in menus adjusting values.) Once you establish a colony you'll likely not need to look at that world again unless you want to go back to change what it produces, or add to its defences. Even those tasks are "one button jobs", you select the colony/fleet/space station/etc. and make any changes from a single drop-menu.

It's up to you to direct the growth of your empire, but you don't need to hold its hands the whole way along; just tell your people what to build (e.g. industrial colonies vs economic colonies vs population centres, what sort of ships to build in each fleet, where to place your defensive stations etc.) and you can sit back to watch it happen... or you can move on to the next frontier of conquest even while the previous batch of orders is being completed.