Actually it was Phillip’s wife, “Bloody” Mary Tudor, was the granddaughter of Ferdinand and Isabella, not Phillip.
But I don’t think the fact they served as English monarchs disqualifies either of them, or their descendents, for hispanic status, according to the generally accepted rules for affirmative action.
BTW, current EEOC rules would probably allow Queen Mary to claim rights to any special civil rights protections her husband, King Philippe had ~ that's a little known provision in the categories ~ Justice Thomas wrote that one!
I don't think Philippe needed any special protections though!
I went back over the federal standards and King and/or Queen of England aren't in the qualifications.