Yes.

Archive.org snapshots may load javascript from external sites, where the original page had loaded them. That script can change anything on the page. Most often, the domain is expired and hijacked by a parking company, so it just replaces the whole page with ads.

Example: https://web.archive.org/web/20140701040026/http://echo.msk.r...

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And another example: https://web.archive.org/web/20260219005158/https://time.is/

The page "got changed" every second. It is easy to make an archived page which would show different content depending on current time or whether you have Mac or Windows, or your locale, or browser fingerpring, or ...