Likely no. It will allow you to ride a 'normal' sized stem, as opposed to running a 80mm, or the like. Stems and bars affect fit, as does the post you ride.
I'm 6'1" and ride a Salsa with a 55cm top tube and 120mm stem, with a Thomson setback post. It fits me perfectly.
One of my former clients is 5'6" and riding a 49cm frame with a 52cm top tube and a 100 stem. It's a good fit.