Well there are obvious ways it could, DC offsets cause issues with transformers, and they aren’t perfect devices they respond differently to different frequencies.
Though having put my scope on the output of a 1:1 isolation transformer, the overall impact at the output of the transformer is negligible.
FWIW I did all my tests to try and identify what was causing 60Hz Hum on my A&S Pendant.
There seems to be a lot of speculation in the PSU design space as to what matters for components.
I’ve seen general agreement that CLC filters are better for tube applications, but are less critical for SS applications, and some reasonable “explanations” for that.
I’ve seen arguments around Tube vs SS rectifiers some types of SS Diodes conduct momentarily in at the point the input voltage swaps positive to negative, and I’ve seen arguments that this matters, sometimes suggesting RF is introduced, even though the frequencies involved would be very high.
The RCR and LCL filters are exactly that filters, and they are going to work better with some inputs than others.
Any noise that gets on a trace inside the box potentially can be coupled to other traces.
I’ve seen claims of lower impedance on the supply making a difference, in fact that’s Paul’s primary claim as to why Powerplants are better than filters. And he’ll claim a transformer with larger gauge wires is better for the same reason.
The best/most controlled example of it makes a difference I can suggest is that the PS Audio regenerators have an M-Wave switch, what this does is make the overall shape of the input slightly wider and flatter. The intent is it requires less filtering, they claim it’s like increasing the size of the capacitor bank in the PSU. On my system at least I can hear a difference if you turn it on, it’s not dramatic, and I’m not sure I even prefer it on, but it does make a difference.
In the end who knows, but I hear a difference with the power plant, I put it down to all those bits of analog electronics where a resistor isn’t just a resistor and nothing really behaves the way the ideal models are described.