No, the band range of HSC marks does not necessarily have to go in order of rank. While a student ranked third may have performed better internally than a student ranked fourth in a particular subject, there is nothing stopping the student ranked fourth from performing better than the student ranked third in the HSC exam of that subject, leading to the student ranked fourth achieving a higher Examination Mark. Keep in mind that a student's own performance in an HSC exam is not affected by factors such as their rank relative to their cohort or their school rank. This can be illustrated using the following example:
In a particular subject, student A is ranked third and student B is ranked fourth. Student A's Assessment Mark ends up being 90, whereas student B's Assessment Mark ends up being 85. Things happened to go slightly differently for each student as they both completed the HSC exam of the subject. Student A felt as though the exam was more difficult than expected and/or they may have not sufficiently prepared, leading them to achieve 85 as their Examination Mark. On the other hand, student B decided to prepare to the best of their abilities and achieved 95 as their Examination Mark. The HSC mark of each student in this subject is therefore:
I hope this helps!