In Diablo 3: Reaper of Souls, Do Dropped Items Vanish? [duplicate]

As Virusboy notes the answer to your title question is yes.

The PC thresholds for Reaper of Souls are the same as given in the accepted answer to How long does dropped loot last?

Regular items and gold disappear after exactly 10 minutes.
Magic items will disappear after 20 minutes.
Rare, Set, Crafted, and Unique items will disappear after lying on the ground for 30 minutes.

Also, the other answer notes:

Based on first-hand testing, low-quality (grey) items seem to despawn in about 5 minutes

and

Do note, that if you're staring at the drops, they won't despawn, you need to be some minimum distance (1-3 screens) away.

As with everything else in the world, leaving and rejoining the game will clean up all of the litter you've caused.

The last sentence is not entirely correct. If you are in a shared game and drop an item that someone else can pick up (i.e. not Bound on Account), the item will still be there if you leave and rejoin quickly enough. Only Bound on Account items disappear immediately.

Yes they do, however. From experience on PC, they will last generally about ten minutes. On console they only tend to last about 2-3 minutes. Although the tag do disappear, pressing Alt will light all of them up on PC. Currently the Console has no Alt / Shift / Ctrl keybind action.