4:2:2 has to do with the spatial resolution of color information (i.e. how many pixels carry independent color information), while color bit depth has to do with the color resolution (i.e. how many shades and hues and saturations of color can be depicted). The only way that these two measures are related, as far as I know, is in the information load they impose. So 4:4:4 requires more bandwidth than 4:2:2, and 10 bit requires more bandwidth than 8 bit. Is the idea of trading bandwidth considerations what prompted your question?
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