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They do.
The Shimano R8000 long cages derailleur is designed for 11-34t cassette (CS-HG800), moreso the cable pull is the same as the previous 6800 et all.
Depending on the bicycle hanger, you may get a long cage 105 5800* to work with the new 11-34t (obviously from a mechanic point of view, wouldn't recommend it).
The range is pretty good, almost an old school jump between each gear with an extra oomph on the biggest range;
11-13-15-17-19-21-23-25-27-30-34
*The Specialized Sequoia cleverly have a very long derailleur hanger enabling the long cage 5800 derailleur to work with an aftermarket 11-36t cassette, for those with a Sequoia, would this mean the new Ultegra may work with the 11-40t?
edscoble
Shl
mtb 11s cassettes fit on 10s freehub, so you can go even wider.
EDIT: I forgot you speak about Shimano, and they don't have any road compatible derailleur that works with bigger cassettes.