Well, it certainly does in women with polycystic ovarian syndrome. It may have an effect in men, but it may not be noticeable. There’s a possibility that the effect is more pronounced in the obese, but the obese tend to have lowered testosterone levels anyway. It’s not likely, for sure.
In rats, Metformin helps with erectile dysfunction, but this has not been analysed or assessed in humans. Don’t ask me where they found the rats with that problem. Maybe they were chewing their bedding and weeping.
Any reason why you ask? It’s not been asked by the thousands of folk taking it, nor is it mentioned in side effects.