Answer: True.
Explanation: a metaphor is a figure of speech that consists in making a direct comparison between elements that aren't obviously related, in order to create an image in the reader's mind. The connotation of a word is the meaning given by the context or even by the readers (or listeners) based on their emotions or personal experiences. So the given statement is true, a metaphor depends upon the connotation of words representing the things being compared.
