STLRN, you are talking about BARREL WHIP, not projectile drop from the muzzle. This was well known in the early part of the twentieth century, at the time the British adopted the SMLE infantry rifle. Because of receiver and bolt flex, the muzzle of the barrel would flex UPWARD as a bullet of lower velocity exited the muzzle, while the muzzle would not flex upward nearly as much with a higher velocity round. As a result, for long distance shooting, the vertical dispersion of the group would be much smaller than groups fired with the same ammunition in a Mauser type actioned rifle. This phenomenon was known as "compensation". The Brits much favored the SMLE rifle for long distance shooting for many years. They used Mauser actioned rifles for shorter ranges, but stuck with the SMLE action for longer ranges, up until the end of the 303 days. Target shooting in the British Empire was done strictly with government issued ammunition in those days and some of it was not so uniform, velocity wise. So, while the muzzle of your artillery piece would be at a higher elevation at the instant of exit, the projectile would still start to drop at the instant of exit.
Cheers,
Phil