No. There are diminishing returns.
The new technology greatly improved 9mm, slightly improved .45 - basically bringing both on par with .40 S&W. .40 performance has stayed flat.
The real advance in ammunition technology was not expansion or bigger wound channels, though expansion has become more reliable. It's barrier blind ammunition that gives "Goldilocks" performance - that 12' to 18' of penetration needed to reach the vital structures in the human body that cause incapacitation without exiting the body. What Kyle DeFoor refers to as "timers" (significant blood loss) and "switches" (Brain, brain stem, etc)
The performance of the 9mm Silver tip in Miami clearly shows this. The issue was failure to adequately penetrate and reach the heart after passing through an intermediate barrier (arm), not failure to create a large enough wound channel.
Modern barrier blind ammunition performs in this "sweet spot" even when it passes through intermediate barriers, whether vehicles, drywall, or bones. Too much penetration and the bullet punches a hole without dumping it's kinetic energy and now you have to worry about what it will hit next. Too little penetration and you create superficial wounds that do not reach the structures needed to incapacitate as seen in Miami.
.45 ACP is actually a poor performer on intermediate barriers, even with modern ammunition, because of the large frontal area of the bullet.
Prior to barrier blind bullets, 9mm rounds were usually either somewhat anemic 147 grain JHP's that were too slow to expand or penetrate reliably or fast light 115 grain bullets that either over expanded, limiting penetration when they hit flesh, or broke up when they hit intermediate barriers leaving the smaller pieces insufficient mass to penetrate adequately.
Prior to barrier blind bullets .40 and 45 had the mass to stay in one piece after passing through intermediate barriers, if the .45 made it through. .40 S&W was actually a "sweet spot" prior to barrier blind bullets as it had better penetration through intermediate barriers than .45 acp but still had enough mass to stay in one piece and adequately penetrate after passing through barriers.
Even with modern bullet technology few agencies using 9mm are carrying 115 grain. Most LE agencies carrying 9mm are carrying 124 or 147 grain +P or +P+ loads. A faster heavier bullet that stays in one piece after passing through barriers and penetrates adequately even when it expands in soft tissue.
As a youngster I started my career with a Ruger .357 revolver and could not wait to swap it out for a SIG P-220 with "by God" .45 caliber 185 grain JHP. When was that you might ask? Well, to quote Bob Valdez in
Valdez is coming "Before I know better.
https://www.imdb.com/title/tt0067921...ters/nm0000044