No, it's an objective decision as it is binary. The ball is either in or out. You are either onside or offside. The ball strikes your hand or it doesn't.Well, first off, this clearly is a subjective decision. So for VAR to overturn it, they have to be sure an error has made. There simply is not the proof.
Offsides are reviewed in exactly the same way. If it was so close as to be inconclusive, the goal would be given.
Regardless of the clear and obvious terminology, this descion shouldn't have been overturned.
Second, yellow cards aren't even reviewed by VAR.
The 'clear and obvious error' test applies to decisions which are subjective and require judgment.
VAR believe the ball went out of play which gives them the intervention right. The error here is the absence of reliable evidence to arrive at that decision.