No. It's about the level of asset density and geometry on screen as you are moving around the world at an insane rate of speed. Yes, LOD is visuals/graphics and a near-seamless visual world is intricately linked with graphical fidelity.
Maintaining SM2 level LOD at speed???
I wouldn't use the term impossible, but considering SM remastered gave some decent spec'd PCs a fit with asset loading/decompression and CPU utilization with RT, I wouldn't be so sure about which PC build could match PS5 settings, because asset density and RT have been cranked up far beyond SM Remastered/MM. Too bad it won't be on PC for another couple years because DF will then run the game on the current top end PC for 2025 i.e. 60 series NVIDIA gpus which of course should be able to breeze by then.