In short - no - disk encryption tied to that specific computer normally does not prevent you from booting from a USB drive or reinstalling the operating system. USB boot happens before the installed system and its encrypted data are accessed, so as long as the BIOS or UEFI allows external booting, you can start an installer and perform a clean installation.
What encryption does affect is access to the existing data on the internal drive. If the encryption keys are bound to the hardware or a security chip and you do not unlock or decrypt the disk first, the installer will simply see the existing partitions as unreadable. During reinstallation you can choose to erase or repartition the drive, which removes the encryption along with all stored data.
In some environments, especially corporate-managed devices, firmware policies or secure boot settings may restrict external booting or require an administrative password. In those cases you would need to change firmware settings first. Aside from those configuration limits and the loss of existing encrypted data, encryption itself does not block a normal USB-based reinstall.
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hth
Marcin