DRY postulates that a code modified in multiple places to achieve a single goal is prone to mistakes. This argument falls apart when you consider a large system with a complex graph of dependencies.
Dependency management
Adding a dependency to a component leads to surprising expansion of its scope - now author is responsible not only for monitoring and servicing the code of the component itself, but also for all of its dependencies (development effort is shared with dependencies authors, but the responsibility can not be shared same way).
False similarity
False similarities are hard to identify and lead to invalid dependencies between components, but those are covered in other answers and are trivial in nature, so I won't discuss them.
Accidental dependencies
When multiple components of identical function are discovered, DRY replaces them with a single one. That single component has to be placed somewhere in a dependency graph.
In a complex dependency graph, it is next to impossible to introduce an additional dependency without adding accidental dependencies (those, that we do not need in a component we are modifying, i.e. when using a pow() function from math.h we accidentally implicitly depend on max() function in a sense, that our component can now use max() without adding any new dependencies and completely opaque to external components). Accidental dependencies drastically change the responsibilities of the resulting component without bringing any value, and have to be avoided.
To solve this issue either modules have to be split until modular system becomes redundant and useless, or components have to be duplicated.
If modules are split, the dependency graph becomes very large and hard to track. Long dependency chains make responsibility delegation impractical.
A nice illustration for the problem of dependency management is left_pad scandal, but the same problem happens with internal dependencies of any large project.
If components are duplicated, a module is self-sufficient, can guarantee its performance and ignore external changes (to a degree, DRY is based on a valid concern).