Yes, moisture content will affect weight yield. For example, if 10% of the hemp To be extracted was water, and that water was removed during CO2 extraction, the denominator would be larger in the yield calculation, thereby giving a smaller yield number. By extension, if the same hemp was extracted but had zero water in the hemp, the overall weight percent yield of the extract would be a greater percent of the weight.
One thing to note is that in ethanol extraction, water that is in the hemp will dissolve into the ethanol. If the ethanol is removed from the CBD oil with a falling film evaporator, some of the water will be Co evaporated with the ethanol, thereby increasing the amount of water in the ethanol for each extraction cycle. Some of the water will stay in the extract and is typically removed in a secondary stirred reactor before wiped film evaporator and distillation.