Not really. To expand on my response: In practice there is always the operating system's event loop, both in retained and immediate mode. This is true for all mainstream operating systems.
What I am explaining is that in practice you have to use the second code, because of how operating systems work. This can be handled by a windowing library (SDL, GLFW, Sokol), and the adapters for libraries like Dear Imgui, Nuklear, etc. also expect the second code.
There are ways to skip processing events in some OSs, but this is not really advised by OS writers, and in some cases you will get subpar experience, apps that don't close correctly, etc.