Well, like all things, the physical "need" for a relief valve in an isolated pipe depends on the circumstances of the isolation. (Regulatory need for the PRV should go back to the fundamental design basis.)
A relief valve is needed going all the way back to the original steam engines in 1795: Continuous Additional Energy going in = more heat in the pipe = more steam (or water pressure = busted pipe, boiled off steam boiler = fire, flooding, feast (not!) and famine.
but note the difference: In an isolated pipe, the "extra" energy going in is going to come from what? Ambient energy into the pipe is going to be limited to solar heat on the pipe, room heat through the insulation from other nearby operating lines or burners, and not much else. If anything, your pipe is going to cool off, the liquid or gas or vapor inside cool down, possibly condense, and the new pressure actually become a vacuum until leakage builds up through the isolation valves. So a classic PRV can't (won't) protect your system against vacuum. And, if you have a vacuum relief valve, then you can't refill the system until that valve is isolated.
If leakage is the source of the pressure between the two valves, the only source of leakage is from the (otherwise isolated) operating system. Which is protected by the PRV's in the two operating loops against maximum operating pressure.