Yes, it can! Menopause is a life stage, not the end. In fact in some studies couples in their 50s and 60s report higher sexual satisfaction than those in their 30s and 40s.
How much libido ('sex drive') we experience during menopause and beyond is influenced by a whole web of factors beyond simply hormones. How much time we have for ourselves in our life; how exhausted we are from caring for others (kids/teens and elderly parents); whether we feel appreciate by a partner; our overall physical health; what we believe about desire and ageing (are we becoming 'dried up and past it' or entering a new era of opportunity...). This web of bio-psycho-social factors determines whether we feel desire.
With a positive mindset ("My sex life isn't over and I deserve to have passion and fun"): medical support as appropriate (especially around any vulval/vaginal discomfort); and an overall lifestyle where you're active and healthy and reduce stress levels as much as possible, your libido can soar after menopause.