It makes a difference. I have written my bachelor thesis about cables and the difference in sound. It makes a lot of difference which cable you use, but a more expensive cable doesn't necessarily mean a better cable. The most expensive cable I tested was the best (Evidence The Lyric HG), but in second place came the cable you get in e.g. Squier and Ibanez starter packs.
There's quite a lot of difference in sound between cables, but be sure NOT to believe everything the cable companies tell you. For example, it is not possible to put more low end in a cable. A cable is a passive unit, you cannot add frequencies to a signal in a passive unit. You can only cut high frequencies, so that it seems the cable has a better low end.
Another thing is golden plugs. Many companies will tell you that a jack plug with a gold coating sounds better, because gold is a noble metal and conducts electricity better. That is only partly true. The coating has to stick to the nickel somehow, so companies use an extra layer of material to make sure the gold sticks on the plug. Result: signal loss. It's only a tiny tiny bit, but it's there.
Same thing goes for playing direction. The Evidence cable I tested has a playing direction (or so Evidence says). But what did my test show? It sounds better in the "wrong" direction. Very odd.
Most sound differences between cables can probably not be heard in a band situation. The biggest differences are in the high end (above 5 KHz) and that's where many other instruments are present.
The only moment where you might have an advantage with an excellent cable is in the studio. If you would need that high end because it is essential for the band sound, you'd wanna use a cable that lets through those frequencies.
The only advice I can give is:
listen. If you don't hear differences: no problem. Get a cable that will work for some time and won't break easily. If you hear it: also no problem. Get a cable that will work for some time, won't break easily and sound good to you
