If you're sure its just frost damage and not Euonymus scale, it will recover, but you'll probably need to cut it back. I mention euonymus scale because the shrub doesn't not look as if its suffered frost damage - that would have hit the top of the plant really hard, but you've got patchy dead areas lower down.

Inspect the plant thoroughly - it might just be that it needs cutting back hard, but here's some info on euonymus scale https://www.rhs.org.uk/advice/profile?PID=798

Also, it looks more like an E. fortunei variety, to me.

Yes it may be eouonymous scale, last year most of the eouonymous i have come across had heavy infestation of scale with all stems of the plants affected followed by leaf drop, some of the plants were so bad that I cut them hard back to ground level but no new growth was made, on other less affected plants I sprayed with bug clear and this has worked well, affected parts were cut away and new growth has come through, I have noticed this problem in many gardens, if you can manage to save the plant then two or three times a year spray with bug clear should keep them in good health.