Does this hold true as an object's ballistic trajectory approaches significant fractions of a planet's diameter?
Granted, the object is constantly being accelerated towards the center of the planet.
But that force vector's direction changes with respect to the initial "horizontal" launch vector as the object continues on a straight path, until they're longer orthogonal.
If I'm wrong, I'd love to hear exactly why, but regurgitating basic physics doesn't resolve the difficulties in modelling a straight flight path around a curved surface, in relation to a dropped object.
Right. Assuming a perfectly spherical earth, at below orbital velocity, it hits the ground somewhere; at orbital velocity up to (but excluding) escape velocity it (assuming the cannon gets out of the way) orbits with the low point at (and opposite) the firing position, and beyond escape velocity it takes a curving path getting ever farther away.
This is Newtonian physics.
Obviously, air, other things, friction mess it up.
But essentially that's it.
Horizontal motion of a body won't affect gravitations vertical pull.