Yes and it is a very important element in putting. Most golfers don’t think of the putter as a club that has loft, but it does. So, it is important that the handle of the putter be lifted up and down to set the putter face exactly (square to gravity*) behind the ball. If the putting surface is exactly flat (no slope) then the bottom of the putter head would sit flat on the ground and the loft and face would be square to the target line. But, if the ball is on a slope, the handle of the putter should be lowered or raised to adjust for the slope and bring the putter face back to square (offset the slope).
* Square to gravity (a term I made up to help explain) means the face and loft of the putter are exactly 90° perpendicular to gravity. If you can imagine a string with a weight hanging and then imagine the putter face perpendicular to that … that is how the putter face must be at setup so the ball does not start left or right of the intended target line. AND, if the face is not square, side spin will be added (we don’t want that).