Yes. Zone hierarchy configuration directly affects how data flows through the system. Specifically when viewing the Daily Report, the Weekly Report, and the Evacuation Report.
On all of these reports you'll notice that the zones filter now reflects the hierarchy setup for the project. The zones filter allows you to select a single zone from the list and generate the desired report while filtering the information to the selected zone.
Note that if a zone with child zones is selected, the filter will include all activity under the child zones as well. If we take the image below as an example, filtering the Daily Report to the "Electric Room B" zone will return activity that was captured in the "Secure Room" zone too.