At least for HDCP, that's exactly how it works. From the HDCP 2.2 spec [1]:
> Device Key Set. An HDCP Receiver has a Device Key Set, which consists of its corresponding Device Secret Keys along with the associated Public Key Certificate.
> Public Key Certificate. Each HDCP Receiver is issued a Public Key Certificate signed by DCP LLC, and contains the Receiver ID and RSA public key corresponding to the HDCP Receiver.
> The top-level HDCP Transmitter checks to see if the Receiver ID of
the connected device is found in the revocation list.
[1]: https://www.digital-cp.com/sites/default/files/specification...