This is a controversial one, so let’s stick with the science. When it comes to digital cables like HDMI, no. A cheap cable will do the same job with ones and zeros as a pricey one.
For analogue cables, like speaker wires or interconnects, there is more evidence to suggest they can have some impact on sound, if you have a system transparent enough to hear it. Until then, spending on other areas of your setup first is likely to create a bigger impact – though included freebie cables are always worth upgrading.
Read more about the science of sound: