For most networks no, it is simply a label. We renamed wireless networks, switch networks, appliance networks and combined networks without issue.
EXCEPT when we tried to rename a network with MXs in concentrator mode set as the main hub of an auto-vpn SD-WAN, all conections dropped for the whole SD-WAN for several minutes and the dashboard page appeared to hang. When it woke up and the connections came back, the network was still the old name, so we just left it!