They're possible reasons, yes. As the mounts fail, the gearbox sits in a slightly different position in relation to the gear selection mechanism which is mounted on the chassis. There's a small amount of adjustment possible with the gearbox selector mechanism where it connects to the shift selector on the gearbox, it may be possible to account for the gearbox droop, but ideally, if the mounts are gone, it'd be worth getting them fixed.
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