It depends of your image(s) sizes and format. If the images are big enough, you won't gain much by using sprites, but for small images there are significant gains, even when using HTTP/2. What makes HTTP/2 better is that there is much less overhead for headers and potentially even less round-trips (provided the server implements PUSH). The question is, how small should your files be to consider bundling them?
For bitmaps, you make a good point in that PNG's optimization algorithm works in favor of sprites, specially if their size is small enough. For example, while the image in this article from Gabriel Bouvigne is 17.4 kb, slicing it produces 132 separate images totaling 135 kb. When you add a small but nonetheless existing additional overhead for transfer, it's close to a factor of ten. And yes, size still matters when the bandwidth between the server and client is limited.
Actually, this also reaches text resources, like javascript, css, and SVG files. If they are small enough and they don't change frequently, you may still consider bundling them together. For example, the Javascript in the ng folder of Angular's source takes 69.6 kb if transferred as separate, minified and gzipped js. If you concatenate them before gzipping, it is just 31.9 kb. The factor here however is just slightly above two, and it may not be as significant if HTTP/2 saves connection time and round-trips. That further balances with the possibility of caching resources separately.
As a final note, if your small images/icons are SVG vectors (and they should!), then they count as text resources. Also, SVG vectors tend to be a bit bigger, for example, Firefox's SVG icon is 15.7 kb when gzipped. At this size, the decision of linking to it vs inlining or bundling is a no-brainer, if the HTTP/2 goodies are working.