Rose shot a one-under-par 71 to reach eight under for the tournament, mixing birdies with bogeys in challenging conditions at Augusta National.
The Englishman emphasized the need for a fearless mindset to win the Green Jacket, acknowledging the tough competition at the top of the leaderboard.
DeChambeau showcased his skills with the putter and irons, staying within striking distance of Rose with a solid round.
McIlroy bounced back from a shaky start on Thursday, posting a bogey-free 66 to stay in contention for his first Masters victory.
Scheffler struggled in the windy conditions but managed to stay in the mix, while veterans like Bernhard Langer and Fred Couples bid farewell to the tournament.
Despite the absence of some big names who missed the cut, the competition at the Masters remains fierce as the weekend approaches.