Yes because if there are no rows, the expression
dtDataTable.Rows.Item(0).Item("IsBoolValue").ToString()
produces an NullReferenceException before being analyzed by the TryParse and you don't want to drive your code using an exception handler like that. The cost to use a simple IF before the test is really minimal compared to the cost to handle an exception.
Also, I think that it is better to introduce a test on DBNull.Value to avoid any possible exception
m_bBoolean = False
If dtDataTable.Rows.Count > 0 Then
if(dtDataTable.Rows.Item(0).Item("IsBoolValue") <> DBNull.Value) Then
Boolean.TryParse(dtDataTable.Rows.Item(0).Item("IsBoolValue").ToString(), m_bBoolean)
End if
End If