Could epidural hematoma lead to cerebral hypoxia?

Yes. Imagine a pressure on one side of the brain from the skull, pushing that side of the brain compressing all the tissues including the blood vessels causing brain hypoxia on one side. It then pushes the whole brain and shifts to the brain against the unyielding skull to the other side, compressing the tissues there also (counter coup effect). That is epidural hematoma without surgical treatment.