No, they're two different things that happen to share similar wording:

• The Newsletter Popup (Marketing > Newsletter Popup tab) is the pop-up/footer-button form covered above — its title, description, image, fields and show behaviour are all set on the Configuration page.
• An embedded sign-up form is a separate block you add to a page yourself in Page Builder (admin/pages), called Email Marketing Newsletter Form. It sits inline in the page layout (not as a popup) and has its own title, description, image, field toggles and button styling that you set when placing the module — changing the Newsletter Popup settings does not change an embedded form you've already placed, and vice versa.

Both submit to the same Email Newsletter contact list in Marketing Campaigns and require the Marketing Campaigns module.