No. Phantom doesn't store your phone number, so there's nothing to change on Phantom's end. If you entered a phone number while using Phantom, it was collected by a third party. Here's where it might be stored and how to update it:
On-ramp providers
Services like MoonPay, Coinbase, or Stripe through which you purchase crypto may collect your phone number for their own identity verification (KYC) process. To update it, contact your provider directly. You can find a link for each provider in Contact information for on-ramp providers.
Apple or Google account
If you signed up for Phantom using Apple or Google login, your phone number is tied to that account, rather than Phantom. Update it in your Apple or Google account settings.
Phantom Cash
If you want to change the phone number used for identity verification (KYC) for Phantom Cash, refer to I want to change the phone number used for identity verification.