Yes, please check the site setting embed unlisted as Simon mentions.
The plugin’s option has the same effect as before, i.e. to unlist embedded topics from the WP Discourse plugin. The change is that the site setting in Discourse is now applied consistently across different embedding scenarios, including WP Discourse. There may be a use case for un-listing embedded WP Discourse topics using the option in the plugin and listing embedded topics from other sources, so I don’t think it makes sense to remove the option at this stage.