I was recently diagnosed with hyperthyroidism. i just noticed a 2nd bald spot developing in my head. once my meds kick in and my thyroid hormones are under control will my hair grow back ?

That would need a further evaluation to locate if the Folicullar units are still functional

Thyroid disease definitely causes changes in hair & nails, but most often it is a generalized loss/thinning, not focal spots. Ideally the meds will help reverse the loss, but there could be another cause (alopecia aereata, fungal infection) to rule out.