No, the VAR referee decides where a "clear and obvious error has been made". But nobody has ever defined what a "clear and obvious error" is, and to one person a "clear and obvious error" may not actually be a "clear and obvious error" to the next person.
Let's say for example it's final day and Bournemouth and Villa are level on points and goal difference.
Both sides are winning 1-0, it's in injury time in second half and as it stands this will send them both down. It's last minute and Grealish wops a ball into the area and it hits a defender's hand, albeit completely accidentally with his arm in a 'natural' position as commentators so often like to say.
Referee waves play on and, after a brief scramble, the ball is cleared for a corner. The defender's arm was by his side, he didn't move his arm towards the ball and he couldn't react quick enough to get his hand out of the way. He could do nothing whatsoever to prevent the ball hitting his hand other than become invisible and have the ball pass right through him.
While the ball is out of play the VAR referee is obliged to look at the incident. Now there is a decision to be made - as any time a ball is handled in the area the VAR must review whatever decision the referee made.
We've seen an array of handballs given and not given this season, and absolutely no consistency into the reasoning why a decision was made. Now it's 100% in the hands of the VAR as to whether Villa get a penalty or not, and whether Bournemouth are relegated if the penalty is converted. Even if the on-field referee completely disagrees with the VAR, he is powerless to overturn the decision.