Yes, but it isn't when the AC can't cool the air any longer that we're worried about, it's when it can't cool it any FURTHER, and that's what the user is usually concerned with. Some states have laws that the AC must be able to cool a rental apartment to 78 degrees, for instance. The designer of the air conditioning system must have in mind a certain outside temperature at which the unit can keep the inside air at some certain lower temperature. I'm saying that you might expect your system to cool to 75 F when the outside temperature is 95 F. Depending on many things, you might also expect, and/or get, better performance (or worse). Maybe your system can cool to a nice comfortable 75 F when the outside temperature is 100 F. Since it can get the inside temperature to 25 F cooler than the outside temperature, you could expect it, when acting as a heat pump, to get the inside temperature to about 25 F warmer than outside. However, in very cold weather, you probably want it to get the inside to more like 50 F warmer than outdoors.
By the way, the Lippert/Furrion air conditioners that come on Grand Design RVs, these days, and can put out heat, are not actually heat pumps. They just use resistance heaters to provide the heat, so the efficiency is much lower than an actual heat pump.