It depends. Generally, it take more than a single hardware change to cause a Windows deactivation. I just replaced my motherboard, when the one I originally wanted finally came back in stock. Windows couldn't have cared less.
However, I would make sure to uninstall any motherboard specific software and drivers first: things like sound, wifi, and any control software. Then, reinstall these drivers after booting up on the new board.
Gr8nizzz reacted to Chris Pratt in Reinstall OS when getting new motherboard?
