Let us consider the following function $$f(x,y)=x^4+y^4.$$
I want to find the local extrema of $f$.
We can verify that $$(\frac{\partial f}{\partial x}(x,y),\frac{\partial f}{\partial y}(x,y) )=(0,0)\Longleftrightarrow (x,y)=(0,0)$$
Further the hessian matrix of $f$ is given by $$H_f(x,y)=\begin{pmatrix} 12x^2 &0\\ 0 &12y^2 \end{pmatrix}.$$ So the determinant of the matrix $H_f(0,0)$ is equal to $0$.
$f(x,y)=x^4+y^4 \ge 0=f(0,0)$ for all $(x,y)\in\Bbb R^2$.
So YES, it is a minimum (in fact, at $(0,0)$ the function attains its global minimum).
MOREOVER
For all $n\in\Bbb N$, the same argument says that $f_n(x):=x^{2n}+y^{2n}$ as a (global) minimum at $(0,0)$.
For odd exponents, namely, for functions $g_n(x,y):=x^{2n+1}+y^{2n+1}$, the poinbt $(0,0)$ is a Saddle point: Given $\varepsilon>0$, $$g_n(\varepsilon,0)=\varepsilon^{2n+1}>0>-\varepsilon^{2n+1}=g_n(-\varepsilon,0)$$