The short answer is yes, it would likely cause the DR event to fail. For SRM to function correctly, it needs connectivity to it's supported database.
Here is how SRM works. During a DR event, the DR site would manage the failover process, not the protected site. As long as the DR site has connectivity to the database, the operation will continue. You will want your database to reside in a location that is accessible by the DR site during failover. Hope this helps!