For example can a voiced pharyngeal fricative [ʕ] develop into the Voiceless bilabial fricative ⟨ɸ⟩? Are there places of articulation that don't directly develop into different places of articulation?
In the subculture of constructed-language enthusiasts, there's an acronym ANADEW: "whatever you proposed for your conlang, A Natlang Already Did it Except Weirder". In other words, pretty much any bizarre sound change you propose has a precedent somewhere.
For your specific case, a series of shifts like
ʕ → ʔ → h → ɸ in certain environments is absolutely possible; while I don't think any language has actually gone through this exact pattern, each of the individual stages is well-attested.