It does not.
In audio, if something has an unwanted tone, I’d use an equalizer curve to get rid of it. But first, I need to know the frequency, so I’d start by making a narrow band amplifier in the equalizer and scan until I found that ugly noise. Then I’d reverse the amplifier to get rid of that narrow band.
Can I do the same thing with photography? Could I apply a curve layer (an additional curve layer) to the image with a narrow amplifying peak to find whoch yellow frequency is the irritating one and then reverse the direction to get rid of the yellow instead of amplifying it? Would I have to fiddle with red and green channels to find the combination that makes the sodium lamp yellow?
You can’t do what you would do in audio. The problem is that cameras don’t really capture the frequency spectrum of light, just some lobes. So you can’t emulate the narrow frequency cuts sometimes done in audio.
A didymium / nightlight filter does indeed do that, but it’s tuned for the frequency of sodium so it won’t help much with the spectrum of white led.
With that said if it’s either white led of the same type or sodium vapor, you can usually get acceptable results by just adjusting white balance (which I guess could be though of as a 3 band EQ).
Mixed light is a real curse though and at least as far as I know common image processing tools don’t really offer the tools to deal with that. You can try different white balances and masks but it’s a pain.