In general, servers and server OSes are designed to run continuously and don't support sleep modes like a laptop or workstation would.
Our Dell servers and, I expect, all others do have power saving modes that allow servers that are idling to slow down clock and fan speeds for example to reduce power consumption. That is not the same as a full sleep though.
Usually servers use the hours when there isn't much user-generated load (typically at night) to run background jobs, like system backups, batch jobs, etc. and aren't idle enough to be allowed to enter an actual sleep mode.
People do turn servers off, but they run into the issue that powering on a server is not nearly instantaneous, but rather takes minutes.
Intention is to have the server drop down into sleep mode when not used, say over-night, and have it start-up again when the NIC receives a data packet.
Wake on LAN (WoL) is still a thing, but that takes a specially-crafted packet and power on time of a server is not quick enough to, for example, start processing a web request before your site visitor is long gone.
In one organisation I worked at, they powered off the majority of VDI servers when users went home. They left sufficient servers running that when people needed a virtual desktop, they could log in immediately and when a certain load threshold was reached, additional servers were powered on preemptively. (I am not too sure if WoL was used for that or an IPMI/iDRAC request would have been made.)
That ensured most of the time that there was enough capacity that when a user wanted to log in, their VDI instance could be made available immediately, but also a great many servers were powered off more than 50% of the time rather than running 24x7.