ainur, I think not. The pity Frodo felt for Sméagol was of fellow-victimhood, both being captive of the ring and the ill effects invested in it by its Lord. His was a pity flowing from mercy and non-judgment. Perhaps it even developed into an unexpressed hope or desire to save the creature.
Sauron, though, was the creator of the ring, not its victim. I don't see that there would be any parallel between the feelings or relationship between Frodo and Sméagol and Frodo and Sauron.
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For I was talking aloud to myself. A habit of the old: they choose the wisest person present to speak to; the long explanations needed by the young are wearying. -Gandalf, The Two Towers
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