Simple answer: YES, it can.Does the trajectory change that much with a hot barrel?
Just how hot until that happens depends on the barrel configuration> And the caliber being fired is a factor and how hot atmospheric conditions can get you to that point quickly and take quite some time to cool down.
I have a sporter barrel on my .308 and I stop shooting when the barrel reaches 122°F. And since I'm here in Arizona, on hot days (90° and up) I put barrel fan in the chamber to help cool it down a quickly as possible. If my barrel gets over that 122° my groups begin to open up noticeably. I also tend to try and keep the barrel somewhat cool in order to keep wear and tear down on the throat/lands.