Yes—based on the community answer, Lightroom applies color calibration first, whether it’s the default calibration or a user-adjusted one. Other color controls are then applied afterward.

So your general understanding is correct: changing the Calibration panel can alter how colors are interpreted later, which can change how HSL sliders affect parts of the image. In practice, that means if you make big Calibration changes first, your HSL adjustments will be more predictable afterward.

The same principle applies to workflow: set broad foundational color choices first, then do fine-tuning. That’s why Calibration is typically treated as an early-stage adjustment.

For white balance, the provided answer does not explicitly place it relative to Calibration, so that specific ordering is not confirmed here.