This might not be correct. The debayering (or demosaicing) process interpolates for keeping the same resolution as the sensor (for example, red value at pixel location for blue or green would be interpolated from the two neighbour red pixels). For green there are two green sensor pixels (sometimes more) fused into one pixel of G plane.
If you want to get full resolution and full scale from your monochrome sensor, you would get it as raw bayer from V4L (if your camera driver has a bypass mode for Argus, you would disable it) and convert each 12bits pixel value into a 16 bits value (this depends on packed or not pixel format) and finally reorder for full monochrome image before further processing.
Obviously it would be easier if your camera module vendor could provide a driver giving Y16 format.