Very likely. Applications can interpret HDR metadata differently when the timeline/output is SDR. One may tone-map automatically while another shows a more literal mismatch.

Identify whether the clip is HLG, PQ/Dolby Vision or another variant and check timeline color space. A useful automatic result is fine, but you still want to know what transform occurred.

For a controlled comparison, disable automatic transforms where practical and apply equivalent conversions manually. That separates defaults from the actual grading tools.

I found that one editor was auto tone-mapping the clip. I will document that behavior before comparing the manual grades.

One useful check is to export a short gray-scale/gradient section as well as real footage. It makes an automatic tone-map or gamma mismatch easier to spot than a saturated outdoor shot.

I found the difference: one editor was applying an automatic HDR-to-SDR mapping and the other was not. Once I made that explicit, their manual results became much closer.

That is the comparison worth documenting: defaults can be very different even when both applications have capable color tools. Separate 'first automatic result' from 'what can be matched manually.'