it can, but suppressed appetite doesn't always = ingesting fewer calories, just as an increased appetite doesn't always = ingesting more calories.
what about someone with a suppressed appetite (due to medication, illness, supplements, whatever) who forces themselves to eat above maintenance. they'd experience weight gain despite a reduced appetite. this wouldnt even be hard or unrealistic with liquid calories since they are easy to consume and (excluding milk) they don't impact much on hunger signals.
also, the term "suppressed" is relative. take someone who previously had a ravenous appetite and was eating far over maintenance, who even with a "suppressed" appetite is still eating above maintenance and gaining some, albiet less, weight.
you can only be/appear leaner due to fat/water loss; appetite is irrelevant.