If your UC-recalculated-weighted-capped GPA is below 3.4, then you will not be admitted as an out-of-state student (California residents need at least a 3.0).
However, it is unlikely that residency makes much of a difference otherwise, other than the slight disadvantage that out-of-state students have in UC recalculation of GPA (honors high school courses that are not AP or IB courses do not get +1 like some (not all) such courses in California high schools do).
Perhaps more significant would be a reduced chance of admission if you choose a more popular major (e.g. engineering majors or CS at most campuses).
There is also no need-based financial aid for out-of-state students. Large merit scholarships that may cover the out-of-state extra tuition or more are highly competitive and should be considered reaches.