I believe he would, I mean, after all, you can't have your ships sunk and your southern border threatened without going to war. No matter who got elected (except Benson), they would had gone into the war. Wilson would probably die in 1919 as he did OTL, and Marshall could had become president.
I suppose I can see the Germans being more hostile to a Wilson administration. Would they really have gone through with their plans for warfare on neutral vessels post-1916 when the Kaiser opposed it IOTL?
How would the Kaiser be more antagonized by Wilson, the sham neutrality he proposed, than an outright Anglophile like Hughes?