Not really. Hitler had decreed that all bombers should be capable of being dive bombers, and thus no 4 engine bomber development could be pursued.
Heinkel of course knew this was stupid, so they endevoured to work around the decree. I don't think the He117 was ever really intended to be a dive bomber, it was just made capable enough of dive bombing to cover the engineer's asses. But even so, the increase in structure to support dive bombing (rather than to support stable flight and added durability) and the stuffing of two engines into each nacel to drive one prop made the plane unsuitable for its real roll - strategic bombing.
Heinkel also pursued the He277 but by the time Hitler recanted his foolish decree, it was too late to get the true 4 engine (and prop) design into the war.