“show on Mac” vs “allow notifications from iphone”

Is there a difference in the "show on Mac" toggle within the iPhone notifications and the "allow notifications from iPhone" toggle on macOS? Only thing I saw was that allow notifications from iPhone was more of an "overall" control to enable or disable all notifications from your phone onto your Mac. But does one setting override the other? Because I can toggle one app ON within my iPhone settings and it will show as OFF on my MacBook. Or do I have to go through all apps twice and make sure the settings align?