At first glance we might think that same weight, same velocity gives same recoil. But it's not really the velocity but instead the acceleration curve of the bullet that gives us the recoil.
If that new coating lets the bullet slip out of the casing and down the barrel a little sooner than the other then we may not see the same peak chamber pressure. Instead the pressure may be lower but with a longer and broader peak. So the muzzle velocity is the same but the "hit" to get the bullet there was lower and longer. This can result in a lower impact felt recoil.
It's much like how a 9mm can feel snappier than the "push" of a .45acp. A more or less typical 9mm round with a 124gn bullet has a peak pressure of roughly 30K PSI. A 200gn .45acp bullet is about half of that pressure. So it feels like it has less bite to it.
So getting back to our miracle product coated bullets if this allows them to exit the case mouth more easily and move a touch further down the bore as the powder burns the increase in volume will work to lower but broaden the peak pressure curve. So the recoil might feel a touch more mild to the shooter. Yet because the bullet is pushed for longer by the lower pressure it still has the same muzzle velocity.
But will it? That depends on if the new coating allows this sort of earlier movement down the bore. If the difference is only around 5% that's not much. At that point I doubt the shooter would feel such a small amount. But a 5% smaller charge coupled with a softer and longer pressure peak could add up to a noticeable amount.