As noted above you will generally feel more of the road with shorter sidewalls, but there is a caveat. Some tires are have softer sidewalls so it's not ALL about the aspect ratio. Pirellis, for one, are pretty soft where Michelins tend to be stiffer.
Then there's the dampers. My M3, on the OEM 19s wearing the Continental ContiSport Contact3, was softer than a friends 328i on 17s when my M was in comfort mode. I test drove a 328iT and it was also stiffer than my M, I can not recall what wheel/tire combo it was wearing, however.