According to Apple's documentation:

You can animate both changes to the arranged subview’s isHidden property and changes to the stack view’s properties by placing these changes inside an animation block.

I've tested the below code using iOS 12.1 Simulator and it works as expected.

UIView.animate(
    withDuration: 2.0,
    delay: 0.0,
    options: [.curveEaseOut],
    animations: {
        self.label.isHidden = true
        self.label.alpha = 0.0
})

You can animate view properties like alpha, color, etc. However, some things happen instantly - isHidden in this case.

Here's an example using UIView.animate:

UIView.animate(withDuration: 2, delay: 0, options: .curveEaseOut, animations: {
    self.label.alpha = 0 // Changes the label's layer alpha value
}, completion: { finished in
    self.label.isHidden = true // Hides the label
    self.label.layer.alpha = 1 // Resets the label's alpha without un-hiding it
})

Using UIViewPropertyAnimator:

UIViewPropertyAnimator.runningPropertyAnimator(withDuration: 2, delay: 0, options: .curveEaseOut, animations: {
    self.label.alpha = 0 // Sets the label's alpha
}) { _ in
    self.label.isHidden = true // Hides the label
    self.label.alpha = 1 // Resets the label's alpha without un-hiding it
}

I have tried your code. Its animating

if self.stackView.subviews.count > 0 {
            UIViewPropertyAnimator.runningPropertyAnimator(withDuration: 1.0, delay: 0, options: [.curveEaseOut], animations: {

                self.stackView.subviews[0].isHidden = true
                self.stackView.subviews[0].alpha = 0.0
                self.stackView.layoutIfNeeded()
            }) { (position) in
                self.stackView.subviews[0].removeFromSuperview()
            }
        }