4:2:0 is not lossless. 4:4:4 with quantizing down to 8-bit YCbCr isn't lossless either. But 10-bit 4:4:4 is reversible back to 8-bit RGB without loss.
Definitely not something to be forgotten if you're expecting to compress lossless RGB, although this is pretty rare outside of niche-ish use cases (afaik game capture is basically the only place where people are likely to be using RGB and not YCbCr? could be wrong!)