Yes. Hypnosis, like sleep, could be disrupted when there is loud noise. It is the same for many other activities such as reiki, meditation, daydream etc. We could be jolt out of it in the midst of any activity.
The disruption need not be noise. It could come in the form of a cockroach crawling on your hand.
A sudden physical movement like someone shaking you or an earthquake taking place would also disrupt hypnosis.