This is one of the most common questions raised by h1b employees recently due to increased H1B denial. Depending on your situation the answer is Yes and No. We will briefly go over different scenarios.
H1B Denial in Amendment due to Role Change
If the amendment was due to a role change, it is likely you will be able to continue with a previously approved petition and valid i-94. This situation is quite possible when someone gets promoted to a management role and filed an Amendment with a new role.
You are eligible to stay in us and perform the original role which was approved. But to stay on the good side of law, you will have to perform the original role and not a management role. If your project doesn't accommodate this, you might be out of luck.
This role doesn't affect your promotion, as a Job title doesn't necessarily need to match your SOC title or Job responsibilities.
H1B Denial in Amendment due to Location Change
If your employer filed an amendment petition due to a location change, there are chances you will be able to use your old petition and valid I-94. But to use your old petition, you will have to move back to your old lca location (based on which H1B was approved and have a valid I-94).
This condition is very much possible due if you have moved to a different location with same employer and client. Most likely you might be allowed to move back.