If you mean permanently, then no, not as far as I’ve read. Although there’s temporary ‘squashing’ everything I found said it all returns to normal after a day or so if not much sooner (the day or so is only if it’s been caged up for weeks).
However if you mean while in the cage then yes, it’s simply amazing how small you can pack most penises, which is why I recommend always start out with a smaller cage and then go up from there if you have any doubt about size. It’s much better to have a snug fit where he can’t even start to have an erection than where there is some room to grow before it stops him, as the latter is much more painful, especially at night. It seems once the erection builds up momentum it’s determined to get big, but if you don’t let it start to get big in the first place it doesn’t have such issues.