Maybe.

George Watt is usually identified as the primary inventor of the Deseret alphabet. He was an expert in the Pittman method of shorthand and supposedly the final characters chosen with two purposes in mind. They were supposed to be easily written by hand, and thus have a lot of calligraphy style elements. They were also supposed to suggest their sounds by their shapes. For example short vowel sounds were designed to be written with smaller characters than the long vowel sounds which were written with larger characters.

For inspiration Watt used the existing Latin alphabet, as well as Pittman style shorthand, but invented many characters from scratch. And yes maybe he also drew inspiration from the Cherokee syllabary. He was familiar with it. And he wrote at least once in a Deseret News article praising Sequoyah for inventing it.

all the credit is due to him for first discovering in modern times that language is based upon but a few elementary sounds, and that marks appropriated to such would supply the means of writing them in all their combinations to make words.

But I've never seen any direct connection drawn between them.