Assuming that your color sensor consists of an RGGB Bayer pattern, OIII in OSC will receive signal through roughly 50% of the pixels, while Ha will receive signal through only 25% of the pixels.
So compared to mono Ha 10h + mono OIII 10h, a 20h OSC dual-band image is roughly equivalent to:
Ha:
20h × 25% = 5h mono-equivalent
OIII:
20h × 50% = 10h mono-equivalent
Since SNR scales with the square root of exposure time:
Ha SNR:
√(5 / 10) ≈ 0.71×
→ OSC Ha is about 70% of the mono Ha SNR
OIII SNR:
√(10 / 10) = 1.0×
→ OSC OIII is theoretically similar to mono OIII SNR
So in practice, OIII may be somewhat comparable, but Ha will be significantly weaker in OSC. On top of that, mono still has advantages from full-resolution sampling, better channel separation, no debayering loss, and generally cleaner narrowband data.
However, in reality, many nebulae are Ha-rich but relatively faint in OIII.
For example, with a mono setup, I might only need a few hours of Ha, while I often need 20–30 hours of OIII to bring out the faint oxygen structure. With mono, I can flexibly adjust the exposure ratio between Ha and OIII depending on the target.
But with OSC + dual-band filter, I cannot control that ratio. Every exposure always captures Ha and OIII at the same time, with the fixed Bayer pattern limitation: roughly 25% of the pixels for Ha and 50% for OIII.
So even though OSC dual-band is very efficient and convenient, it is less flexible. If the target needs much more OIII than Ha, mono has a clear advantage because I can dedicate most of the integration time to OIII instead of continuing to collect unnecessary extra Ha.