Not necessarily, however some baits can be less or more effective in lower temperatures. High fat, high oil baits, like halibut pellets, heavy grade fishmeal boilies can be harder for the fish to digest, or the oils congeal at lower temperatures, preventing the attractors to leach out of the bait, reducing the ability for the attractors to leach out.
In summer these baits work well into the autumn but once water temperatures drop, nut / seed based boilies, or those on a milk protein base mix, along with hemp, corn, maggots will be easier for the fish to digest.