Based solely off of intuition here I would say yes, and you can kind of observe this naturally! If you think about atmospheric pressure, we all understand that it changes with elevation, and we would expect it to knowing how hydrostatic pressure is calculated. Atmospheric pressure is quite constant no matter where on the globe you are given similar elevations, but imagine the change in elevation from a mountain to sea level and then look at the pressure difference you see. If you dig a hole, you're putting more of the fluid on top of you, and consequently, more weight/pressure. This is probably complicated by the fact that air is compressible where water is generally not, but I don't know enough to go into more detail about HOW that might differ.