Yes, it will, actually it will impact in any application that uses OpenGL or Direct3D. The video cards are optmized to use power of 2 textures due to math reasons. In most cases the engine might rescale your texture to a power of 2 OR let it gag.
In this case that’s only matter what texture the engine will send to the video card, so, if you have a very big texture with 5120x5120 and inside the engine, uses a 100x200 sprite of that texture, that will be ok.