I noticed this thread was in the Tableau Prep space, but I'm thinking your question is related to Tableau Desktop.
Assuming that, then no, parameters are static and do not get updated with new values when the data source. There are potentially some work-arounds, but the specific solution would depend on exactly what you want to do. You might also upvote the idea of Dynamic Parameters which would be updated with the data here: https://community.tableau.com/ideas/1178
Have a great day!