yes
dv uses 4:1:1 sampling
so when you convert from dv to rgb you will have to interpolate the subsampled chroma, and when you go back to dv you’ll lose some info in the convertion.
so in the end you will most probably lose some color precision in chroma channels, although dv->rgb->dv isnt going to be much color loss.
rgb->dv->rgb would be much worse