Can ultherapy, when selected by a physician, result with minimal facial improvement even after waiting months for the desired effect?

Yes: Ultherapy, laser, chemical peel and other less invasive treatments sometimes have less effect than the patient and doctor expects. Certainly none of them are equal to the results seen with facelift. If things do not meet your expectation speak to your doctor.

Check before photos: I have performed hundreds of ultherapy treatments. In my experience, most patients have good improvement, but results vary. It may be worth reviewing this with the doctor who treated you, and to view the pre-treatment photos. We often get used to the gradual changes that occur, and forget what we used to look like. It can be very helpful to see the before photos when evaluating your results.