I don't think so. Disabling ads on youtube requires injecting JavaScript. It's not forbidden in manifest v3 (and it would be absurd to forbid it, as 99% extensions exist because of this).
For reference: I don't see ads on youtube using hand-crafted JS which was inspired by uBlock origin, so I think that uBlock origin should work as well.
For reference: I don't see ads on youtube using hand-crafted JS which was inspired by uBlock origin, so I think that uBlock origin should work as well.