I suspect that it means it’s not a DTH local to the hub, and if you check the IDE for your bulbs it probably says “cloud”. It shouldn’t have an impact on behavior, unless you don’t have internet connectivity. In that scenario you won’t be able to control them until your internet connection is re-established.
Wanted to add a little bit to this. If your Internet goes down, you won’t be able to control any devices (even “local” ones) as the app on your phone talks through the cloud to your hub. However, any devices using “local” device handlers will continue to function in some “local” automations you’ve setup (SmartLighting, etc).