Yes! You can easily share a Spanish-translated version of a form. You'll simply append a URL parameter to the end of your form URL, depending on which of the sharing URLs you use to distribute your form.
The sharing URLs for your form can be found on the action's page, on the right side of the screen - listed as "Link to form intro" and "Link directly to form." The "Link to form intro" will open the form's introductory page can include a cover image, disclaimer, etc.. Participants can click the start button to advance to the form. The "Link directly to form" will skip that introductory page and open the form directly.
To share a Spanish-translated version of the form, simply append the parameter &language=es to the end of the sharing URL (either version).
Note that these URLs open a translated version of Impactive itself - meaning that the form field title, button, etc. will be in Spanish. If you want the admin-generated content - the form's title, description, question text, etc. - to be in Spanish, you'll need to paste in Spanish content and/or use Spanish-titled tags and custom fields when you set up the form.
For this reason, you can't run an English and Spanish form within the same form action; they need to be separate actions, where one has an English title/description and one has a Spanish title/description, and you use the Spanish URL parameter for the Spanish form's sharing URL.