Both are fine, but mean different things (slightly). You can also add the word 'letter' right after "acceptance" as that normally goes together with it.

Both are fine but slightly irregular to my native ear. For both of these sentences it sounds better to just say " John/he/she/it has yet to receive acceptance to any graduate school." the total meaning will still be conveyed, so no information will be lost, but this grammar construct sounds more correct to my ear.