Yes in conservative 2PL there are no deadlocks .
Conservative 2PL requires a transaction to lock all the items it accesses before the transaction begin execution by pre-declaring it’s read set and write set .(From navathe)
If at least one of the required data items cannot be obtained then none of the items are locked. Rather, the transaction waits and then tries again to lock all the items it needs.
So it does not just hold an items and wait for another item which somehow does not satisfy hold and wait for deadlock and making this deadlock free.