The simple answer to the question in the title is YES, there is precedent for large drops in offense and the components of offense at Chase Field prior to 2018.
The traditional formula for basic park factors measures what a team does at home and on the road, against what they allow to their opponents in home and road games. The formula looks like this:
((homeRS + homeRA)/(homeG)) / ((roadRS + roadRA)/(roadG))
This is the most simplistic form, and what you will find at ESPN Stats pages. These are single year park factors.