It can. Sealing the slab cove joint and sealing the sump pit, which a good waterproofing job does, also closes common radon entry paths. The EPA notes the moisture-radon link. After waterproofing, retest for radon, and if a system exists, keep the sump lid sealed.
More detail
Basement water and radon enter through many of the same paths, so waterproofing work interacts with radon in ways worth knowing. The cove joint, slab cracks, and an open sump pit are simultaneously water-entry points and radon-entry points (radon is a soil gas that rides the same hydrostatic and stack-effect pressures that drive groundwater). When an interior drainage system goes in, the crew seals and lids the sump basin and the cove joint at the wall, which incidentally closes radon paths too. The EPA discusses the moisture-radon link directly in its indoor-air guidance, and a sealed, lidded sump is standard radon-mitigation practice for exactly this reason. Two practical implications. First, any major basement work, waterproofing very much included, changes the basement's air-pressure and air-flow dynamics, so the EPA recommendation is to retest for radon roughly 30 to 90 days after the work is done; levels can shift either direction. Second, if your home already has a radon mitigation system with a sealed sump, the waterproofing crew needs to preserve that seal and keep the sump integrated into the radon system rather than leaving it open. Cincinnati and the surrounding counties sit in EPA Radon Zone 1, the highest-risk tier, so this is not a hypothetical concern locally. We coordinate with our sister Cincinnati radon team when a home has or needs both, so the sump pit is configured to serve the drainage system and the radon system at once. If you do not currently have a radon test on file, waterproofing is a natural moment to get one, since the basement is already the focus.