hmmm......I would say that it could, but only if a lack of testosterone is the problem to begin with. The actual problem might be psychological, or it might be something else that is physical.
If the problem is actually something like erectile dysfunction, then that will carry some psychological problems along with it a lot of times. But the erectile thing might be caused by constricted blood flow, and not a lack of testosterone-so more testosterone could, in fact, be damaging to whoever, in the long run.
Should the actual problem be constricted blood flow, then the obvious solution is a vasodialator such as vitamin B3.
Why not try viagra, or one of those medications-truly, a doctor would be the best help for this sort of question.