yep.
if you aren't bottoming out, then you can afford to either lower it, or soften the springs.
if you are bottoming out, then you will have to either lift it, or stiffen the springs.
a lifted, softly sprung car will have plenty of grip, but will have a lot of body roll too, and take a long time to shift it's weight from one side to the other, making the handling feel unresponsive and sloppy.
a lowered, stiffly sprung car will have a bit less grip ultimate grip, but also less body roll, making it feel more responsive and precise.
on a smooth track, find the compromise between handling and grip that works for you, and off you go. bumpy tracks are a bit more of a challenge to get set up for, but you get the idea.