Yes, by default this is set to 4 hours, however you can choose from one of the following:
Respect Existing Headers
30 minutes
1 hour
2 hours
3 hours
4 hours
5 hours
8 hours
12 hours
16 hours
20 hours
1 day
2 days
3 days
4 days
5 days
8 days
16 days
24 days
1 month
2 months
6 months
1 year
Please open a support ticket to request this change