Yes: The HPS bulb will get very hot in a small area and the LEDs have big heat sinks that get warm over a large volume of air. But if you blow some air past the HPS bulb it will heat the room just the same as an equivalent wattage of LEDs. My HPS bulb made 133 lumens per watt and LEDs can be more efficient like about 170 lumens per watt, but most of them are not.
But it really makes no difference if they make a bit more light because that light almost all ends up as heat once it hits something. This is elementary physics: Watts = watts. They don’t magically appear and they don’t ,magically disappear.
The LED may make a spectrum you like better, but really the agricultural efficiency of cannabis is only about 6%. That means 6% of the photons that hit a leaf will go into photosynthesis, and all the rest is just turned into waste heat. So the differences between HPS and LED in terms of waste heat are very small.