If you switch on polyframe coloring (Shift+F) you will see if your model has been split into groups.
In order for Import Mat As Groups to work, the OBJ you import must have the correct tags. Whether this is the case will depend on the app you are using and the export options you select in that app. You might do some tests with a simple cube to see if you are exporting the OBJ correctly.
The attached cube shows material groups. You can test this by importing into ZBrush with the Import Mat As Groups on and off (with polyframes switched on so you can see what’s happening!).
EDIT: Conflicts may arise if the material groups are also part of polygroups, so you may need to switch off the Preferences>Importexport>Import Polygroups button to get the material groups to import. You can always re-import your polygroups later by:
- Switching Import Polygroups on (and Import Mat As Groups off).
- Selecting the lowest subdivision level of your model.
- Storing a Morph Target to preserve your sculpting.
- Importing the OBJ to re-assign polygroups.
- Switch the Morph Target before returning to higher subdivision levels.