Yes cutting out red meat from your diet is one of the best things you can do to help you lose weight.
Red meat is calorie dense and high in calories so when you eat red meat while dieting you may still lose weight but it can take longer to lose that weight when you do eat red meat or any other meat.
When you don't eat the red meat or other high calorie meats then you won't have to burn off those extra calories to help with the weight loss.
So if you're on a weight loss diet and are eating red meat it would be best to cut out the red meat from your diet until at least you lose the weight you desire.
Then you can eat some red meat or other meats but still get plenty of exercise and eat more healthy foods such as fruits and vegetables and exercise often.
Walk when you can, go running, jogging, cycling etc.