Exclude rows with consecutive data that may repeat
This seems to be similar to a solution from Itzik Ben-Gan to gaps and islands

SELECT [device_owner], [device_id],MIN(timestamp) as timestamp,status

FROM
(
SELECT *
   ,diff = ROW_NUMBER()OVER(PARTITION BY device_owner,device_id ORDER BY timestamp ASC) 
         - ROW_NUMBER()OVER(PARTITION BY device_owner,device_id , status ORDER BY timestamp ASC) 
FROM @t
)A
--WhERE status = 0
GROUP BY [device_owner], [device_id],status , diff
ORDER BY timestamp


output of  it:

device_owner    device_id   timestamp           status
owner1          device_1    01/01/2001 09:00:00 False
owner1          device_2    01/01/2001 09:15:00 False
owner1          device_1    01/01/2001 09:30:00 True
owner1          device_2    01/01/2001 09:45:00 True
owner1          device_1    01/01/2001 09:55:00 False
owner1          device_1    01/01/2001 10:11:00 True


dbfiddle