Yes, it can. Other clues can confirm this, including:

• Touch the soil, probe down up to 1″ deep - is it wet? Is it damp? Has it been damp for weeks? Then very likely overwater is the cause.
• Are the yellow leaves soft and mushy, as opposed to dry and crispy? Overwater is a likely culprit.
• Do the yellow leaves have a waterstained look to them, like in a watercolor when the colors bleed into each other? This is less common, but when you see it, strongly indicates overwater.
• Are the stems, particularly at the soil line, black or rotted looking? Very definitely overwater is the cause.

However, if your plant wilted because it got so dry it collapsed or shriveled (because some plants will shrivel subtly rather than wilt), and then was watered deeply, it will often shed yellow leaves from the shock of having gotten so dry. The leaves will often only turn yellow after it has gotten watered and is recovering, because it’s cutting its losses to conserve energy. In questo caso, può benissimo rimanere bagnata per una settimana o più se la innaffiate profondamente e non drenate il vassoio, ma non diagnosticherei l'ingiallimento come un sintomo di eccesso d'acqua in questo caso. Ecco perché un'anamnesi è così importante.