Since gravity pulls down the beam, hence gravity is also affecting how the hoop rotates; therefore something must give out energy, such that the hoop keeps rotating at a fixed rate. The only thing in the system can possibly give in energy is what keeps the whole thing rotating at a fixed rate. On the other hand, to see what role the "centrifugal force" play, we need to find the equation of motion.
The Lagrangian is $$L=\frac{1}{2}m(\omega^2R^2\sin^2 \theta +R^2 \dot \theta) -mgR(1-\cos\theta)$$
Hence the E-L equation gives us: $$R\ddot\theta = \sin\theta(\omega^2R \cos \theta − g)$$
We can interpret this equation as: the gravitational acceleration ($g\sin\theta $) is in competition with centripetal acceleration along the hoop ($\omega^2R \cos \theta\sin\theta$) ; therefore, yeah, you "can" say there is centrifugal force gives the potential energy in a non-inertial frame.
After finding the equilibrium points, we will see there exist a critical frequency $\omega_c^2=g/R$ that will ultimately change the stable point. For a low frequency $\omega$, the only stable point is at the bottom. Once we pick a frequency $\omega$ larger than the critical frequency, the only stable point instantly jump to $\theta=\cos ^{-1}(\frac{g}{\omega^2R})$. It would be weird to say there exist centrifugal force, as it behaves so dramatically differently with a frequency just slightly higher. Indeed, centrifugal force is just what we use when we try to make sense of Newton's II law in a non-inertial frame. (centrifugal force is always not real -- but its effect is real)