It depends where you landed! If you landed within 20m of your home point - then no, it won't take off again - but if you landed further away from home than 20m - then yes it will take off and try to return home!
I found this out during my first week of ownership - accidentally. I had taken off from the park across the street from my house - but then after flying around for 10 minutes, I landed it manually in my backyard. After landing, I turned off the RC and walked back home but when I got to the backyard where I had landed - there was no sign of the drone! After a few minutes of panicking, I walked back over to the park and found it waiting for me in the spot I had originally taken off from. Apparently shutting off the RC had triggered the "Lost Connection Failsafe" and even though I was already safely on the ground and powered down - the Phantom powered itself back up, took off and "Returned to Home". This was over a year ago with a Phantom 3 Advanced - but unless they've changed the behaviour since then, I'd think that the low battery failsafe would act the same way. However, as long as you land within 20m of the recorded home point, you'll be okay since it will already think it's home.