From the paper (proton drive file) https://drive.proton.me/urls/Z6DPGQCZ0M#GxZ6dDb2oV5W

The results suggest that Denuvo does protect legitimate sales to an estimated mean of 15 percent of total revenue and median of 20 percent, but there is little justification to employ Denuvo long-term (i.e. for more than three months), especially given that Denuvo can have negative technical side effects and is generally disliked by users.