Yes, in fact, the current state-of-the-art atomic clocks are hitting a limit called the standard quantum limit (SQL) of the quantum projection noise (QPN). Basically, atomic clocks operate by probing atoms with an accurate local oscillator, in this case, the laser, to drive the clock transition (here, 698.446nm or 429.228 THz). In this two-level system (a ground state, g and excited state, e), you can think of the measurement yields a "pointer" that points the state of the system (which is a superposition of g and e, which is related the the fraction of atoms in the ensemble being excited, i.e. the excitation fraction), however, such measurement is not certain, hence QPN.
However, there're workarounds to beat this SQL. One approach people are working on is called the "spin squeezing", which, one can think of the uncertainties of a measurement mapped onto a 2D plane, for simplicity, a circle. Spin squeezing is used to improve the uncertainty in one axis while sacrificing the other, like squeezing the circle into an eclipse. There's a group in MIT which attempted to show metrological gain from spin squeezing in 2020, which they failed.