Even better - you don't have to worry about it being "lossy" or not as you don't just map specific RGB color to Pantone; you're mapping whole color layers, so your layer is displayed in #ffc72b on screen, but you're telling the printer that this particular layer is supposed to come out as Pantone 123. This is the exact same thing that happens when you select Pantone 123 in Photoshop after paying for the subscription, except the "telling the printer" part is embedded in PSD file in that case.