Yes, a drop in the frequency of light can occur over large distances as a result of the expansion of space. This phenomenon is known as cosmological redshift.
According to the theory of general relativity, the fabric of space itself can expand. As space expands, it stretches the wavelength of light traveling through it, causing the light to become "redshifted." Redshift refers to the increase in the wavelength of light, which corresponds to a decrease in its frequency.
The redshift is a consequence of the expansion of the universe and is observed in the light emitted by distant galaxies. As the light from these galaxies travels through the expanding space towards us, its wavelength gets stretched, causing the light to shift towards longer wavelengths, usually into the red part of the electromagnetic spectrum. This redshift provides evidence for the expansion of the universe.
The amount of redshift observed depends on the distance between the source of light and the observer. The greater the distance, the more the space has expanded, and thus, the greater the redshift. This effect is commonly observed in astronomical observations and is one of the pieces of evidence supporting the Big Bang theory and the expanding universe.