FB,
If you are showing full oil pressure on the gauge, then you are getting oil to the crankshaft, so I would say the answer to your question is no. However ..... if you use an inexpensive filter and the insides come apart due to the high pressure and the blocked bypass, you will have a problem. But if this happens, you should also see a loss of oil pressure. I had one customer ruin an engine that way years ago when he switched to a cheapo filter. We found a clump of filter paper blocking the main passage into the engine
