Probably not, if we’re speaking about the next adapter in the line.
They both use 4 pins, and there are no active conversion in the adapter itself, it just connects the pins like this:
USB ↔ PS/2
+5V ↔ +5V
D- ↔ D
D+ ↔ CLK
GND ↔ GND
So, as long as next adapter is not doing something funny with PS/2 signals, it should be ok for bare USB 2.0 connection.
Im curious: Will the USB to PS/2 do anything for something thats not a keyboard or mouse?
No, and not even all keyboards and mice. It will only work for ones which can do PS/2 signaling over the USB port.
Probably not, if we’re speaking about the next adapter in the line. They both use 4 pins, and there are no active conversion in the adapter itself, it just connects the pins like this:
USB ↔ PS/2 +5V ↔ +5V D- ↔ D D+ ↔ CLK GND ↔ GND
So, as long as next adapter is not doing something funny with PS/2 signals, it should be ok for bare USB 2.0 connection.