In one aspect, a system for controlling the supply of hydraulic fluid to an implement of a work vehicle may generally include a pump, a control valve coupled to the pump and first and second fluid lines provided in flow communication with output ports of the control valve. The system may also include a pressure control valve provided in flow communication with the second fluid line that is configured to regulate a fluid pressure of the hydraulic fluid being supplied to a hydraulic cylinder of the implement. Additionally, the system may include a bypass fluid line configured to provide a flow path for hydraulic fluid between the pump and the second fluid line that is independent of the control valve and a load sensing line configured to provide an indication of the fluid pressure of the hydraulic fluid being supplied to the hydraulic cylinder.
