Yes.
If too short (probably a second or few), there may be some issues with power (residual charge in capacitors, etc). Generally not an issue with modern PCs. If too long (a few years), the battery saving BIOS settings would run out (not necessarily an issue), also lubricants in all the fans would dry out causing extra power draw and overheating.
There are other issues that happen over time (i.e. capacitors drying out), but they do not necessarily care whether computer is on or off.
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