It would depend on which frequency the ADS-B out is using. Here is a good source for ADS-B training. If a transponder is the ADS-B-out source (1090 MHz), than yes, ADS-B would be lost. If a separate 978 MHz (978UAT) transmitter is the ADS-B-out source, than ADS-B should continue to function.
Freeflight Systems | NextGen Avionics - ADS-B Solutions - ADS-B University