No. This is about possibly blocking the main asyncio loop. I have not tested, nor looked further into this - if it runs in an executor, that would be perfectly fine.
BTW, for those seeking a more KNX-type of way to achieve this: Dimming actors by MDT (should work similar for e.g. Theben or others) allow to define a scene, which sets a specific absolute dimming value and defines the time to get there. So, here from HA one just needs to activate the scene and the rest is done by the bus / the dimming actuator.
There are even a DPTs that allows to define transition times and target xy-color or color_temp per telegram - without manufacturer specific scene logic
So if anyone is interested: DPT 243.600 and 249.600