No.
The thyroid regulates the activity of various metabolic hormones, including insulin, which controls how quickly your body can break down sugars and fats. The levels of these hormones rise when you eat, so they will naturally increase if you’re drinking a lot of fluid at the same time.
Sounds like it’s possible that drinking water causes water retention because it suppresses appetite. Even though people believe that drinking too much leads to weight gain, the detrimental effects are more likely related to other factors such as stress or overeating snacking snacks during an episode caused by without remembering to drink more fluids.