Yes. It does. It is an adaptogenic. It lowers if you have high thyroid, and raises if you have low.
It might be for some important reason to keep your body in homeostasis while dealing with a different problem.
Other literature I’ve read suggests that, for this very reason, prolonged use of adaptogens (including maca, rhodiola, ginseng) is inadvisable.
In my own case, I suspect it may have led to problems (e.g., caused HPA axis to slow down further) after a while, having shown benefits in the beginning.
Long story short: the body always fights back.