No. Conan Doyle fell in love with mysticism and the occult. He'd attend seyances and even believed in fairies. Sherlock, on the opposite end, represented a cold rationalism that ignored all fantastical theories and explanations. He grew tired of trying to inhabit both minds, so he had Dr. Moriarty SPOILERS (hover over this and don't bother clicking). The outcry was fantastical. Fans around the world sent Conan Doyle pleading letters, calling him a brute and cruel for killing off their beloved detective. So Conan Doyle finally relented and wrote more stories of Sherlock's adventures, culminating in MORE SPOILERS. It was nothing like what you describe.

You may be thinking of Cervantes, though. After writing Don Quixote, dozens of authors wrote shitty fan fiction surrounding the crazy knight. There were hundreds of "additional adventures" floating around cheapening the brand. In order maintain strict quality standards, Cervantes wrote a second book (now considered to just be the second half of Don Quixote) which he begins by essentially telling all other Quixote writers to fuck off before ending his book with SPOILERS.