It's not. The HUP states that you cannot have a quantum state that has both a definite position and a definite momentum. In the quantum Zeno effect, you are forcing the particle to stay in a position eigenstate, so its momentum will be totally indefinite. But you may ask, if the position isn't moving then isn't the momentum automatically zero? No. There is Ehrenfest's theorem that states that the expectation value of the momentum is the derivative of the expectation value of position with respect to time (times mass), but this theorem only covers the behavior of expectation values when the quantum state is undergoing unitary time evolution. But if constant position measurements are made of it, then its wavefunction cannot evolve according to the Schrodinger equation at all. That is why a particle can be stationary, but still not have zero momentum. So the HUP is saved!
For the record, I think the OP was asking about a different issue, the question of whether human knowledge matters.
EDIT: I just wanted to add that while you shouldn't just naively apply Ehrenfest's theorem to find the expectation value of the momentum, because unitary time evolution is not occurring, it turns out that you happen to get the right answer anyway if you do apply it. That's because, since the position uncertainty is zero, the momentum uncertainty is infinite, so the momentum is equally likely to take any value from negative infinity to infinity, which means that its average value is zero!