No
First, note that the option is ‘Categories and Latest Topics’, not “with”. Categories and Latest Topics is what we have here on Meta. Category list on the left, Latest view on the right. Latest shows all topics from any category, topics listed by those with most recent replies. Same thing you’d see at /latest, just half width.
Categories with Featured Topics shows each category, along with the topics with the most recent replies for that category. Categories with Featured Topics is what this topic is discussing.
A simple example. Say you have 2 categories, 2020 and 2019. No one uses the 2019 category anymore, as it is 2020. So all your recent topics are in the 2020 category. If your desktop category page style was set to “Categories and Latest Topics”, you’d see both categories on the left, and a list of topics from the 2020 category on the right, as they’re the most recent. If your desktop category page style was instead set to “Categories with Featured Topics”, you’d see categories on the left, 3 (by default) topics per category on the right.
Here’s the same site (try) showing both styles.
Categories with Featured Topics:
Categories and Latest Topics:
