Maybe. It depends on the type of analysis tool. The source code might be the only thing that's required, or the build output might be required.
For example, Credential Scanner (CredScan) analyzes files within the folder structure of the code repository. Because of this analysis, you can run the CredScan and Publish Security Analysis Logs build tasks in a standalone build to get results.
For other tools like BinSkim that analyze post-build artifacts, the build is required first.