sure it can.

take an extreme, with the piston weight something stupid like 10 kgs. How slowly would that accelerate ? So you'd not build up that high pressure pulse.
This is why long weak springs and heavy pistons are a bad combination.

too light also robs power, as the piston lacks inertia, so is quickly stopped by the pressure pushing back on it.

So there's a sweet spot in the middle. As Neil indicates, for 25mm bore guns around 12 FP, the sweet spot is 180g - 220g (depending on stroke/port/seal/spring).