Would repeatedly importing and exporting H.246 video result in loss of quality? After exporting a time lapse video as H.246 mp4 using Adobe Premiere I realized I wanted a second copy without sound, but I had already changed the settings.  To save time I simply imported the mp4 to Premiere and then exported it again with the same H.246 settings but without the audio channel.

After close analysis of the 2 files I can't perceive any loss in quality, but I worry that I may have lost a tiny bit of quality through this process. Would repeating this process eventually result in noticeable loss of quality?
Compression by default is removing information. “Lossless” compression, if repeated, will indeed result in degradation after a few generations.

Higher compression rates will degrade after fewer generations.