Very good and deep question, which could be (and probably is) the subject of a book.
If the conducted emissions are common mode in voltage, appearing equally on both wires of the twisted pair, then the emissions arriving (conducted) at the far end of the wire will not be reduced significantly or at all by twisting. But the far end device may have common mode noise rejection. The twisted pair may help to insure that that balanced noise going into the pair is still balanced at the far end.
If the conducted emission voltage is on only one of the wires, then twisting the pair will at best increase the wire to wire capacitance, which may have a small filtering effect.
It will not even necessarily reduce radiated emissions from that wire pair if the current corresponding to the emitted signal is not equal and opposite between the two wires of the pair.
Brief digression into "conducted emissions":
Emissions could be radiated directly from the device, getting out regardless of any connected wires.
Or it could be conducted through the wires directly to the terminals of the device that is getting interfered with.
Or, and here is where you need to know the applicable definition for your regulations, it could be conducted out of the originating device and then radiated from that wiring to a sensitive device along the way.