The answer to your question largely depends on what the libraries are, and how you link to them.
If the libraries are import libraries for DLLs, then you may not need to re-compile. However, if the DLLs need to link to the same C++ runtime as the host executable, then you will need to re-compile if your host executable uses a different runtime from the DLL.
If the libraries are static libraries then you will need to re-compile if the static library is linked against a different C++ runtime from the program into which it is linked.