Yes. I always use the low handles, so I'm forced to put my butt down and load my hamstrings. With the high handles, I can pretty much "cheat it up" as a quad move.
I'm really petite, so this might feel different depending on your height. For me, the high handles almost feel like I'm pulling from pins. It's much harder to hit my posterior chain.
Even when I'm using the Trap Bar for constant tension RDLs, doing each rep from just at the knees or below, I'll still put it on the low handle setting.
It might depend on what your purpose is. For example, my sticking point on DLs is always off the floor, so training a high DL where I'm starting the pull high, just the top of the motion, doesn't make sense for me. Stop and Go Trap DLs are great sometimes for BBing purposes, but if I want to work on coming off the floor I need to stop and reset.