No, not really… Time Sensitive notifications work with Focus modes.
Time Sensitive notifications are given higher priority than regular notifications and can break through Focus modes. They are more for important things like text messages, calendar appointments, reminders, weather alerts, etc. For example, your calendar appointment can still come through even if you have Do Not Disturb turned on. Also, they’ll stay on your Lock Screen after unlocking your phone (regular ones disappear and move to the Notification Center).
So in a nutshell, if you have an app that sends important notifications you want to see no matter what, then enable Time Sensitive Notifications for that app. It’s mostly useful when using Focus modes.