I've yet to see any ads on uBO Lite so I'll assume it's false, unless you give an example
uBO lite struggles with dynamically inserted ads. I’m not sure if it works with YouTube midrolls, I haven’t tried it. I did try paramount plus months ago though, which uBlock handles but Lite doesn’t. That’s not really an intended use case for an adblocker though, IMO, so maybe it’s fine. And, maybe it’s improved by now.
https://news.ycombinator.com/item?id=48474710