yes, I'm not across the Mastodon codebase but my expectation is also that it would do a fresh webfinger request.
Thinking about it as a "cache" isn't really the right conceptual framework though. There will be a copy of the user in the database, including copies of any posts etc your current server knows about. e.g. James Cridland (npub13cg…ck4q)">https://ausglam.space/James Cridland (npub13cg…ck4q) is a full user object on ausglam.space .
So a webfinger request isn't necessarily going to refresh anything, all it does is point to the canonical source data for the user.