A suit will settle a bit, but whether it looks better afterward is a matter of opinion. More often it just looks like it needs a good pressing. However I have seen glaring defects of workmanship excused with a simple "oh it just needs to break in a bit", and that is hogwash, and sadly people have to believe what they are being told.
A familiar sequence from the last three years if SF:
Me: posts new suit.
SF: that looks too new.
Me: well, it is new. But, what do you mean?
SF: no wrinkles. No sagging.
Me: well, for an old suit, that's maintenance. An attribute if something is made well is stability of appearance over time. It should look great on the first day and then great afterward.
SF: that's because you only wear something once.
Me: well, I'm old. Here's something from twenty years ago...Brioni MTM.
SF: that's not old. That's new. There's no wrinkling or sagging.
Me: well, it was made and fitted tolerably well. It's been sponged and pressed also by a tailor.
SF: sorry, that's not what I see in the Sartorialist or WAYWRN.
Me: wait a second...Despos, you Beldoniab fwocker!
Despos: vox, you ate easy prey.