Answer
Based on community investigation (not an official IFS statement), yes — at least three separate Oracle sequences back different pick-list "families" behind the shared "Pick List" name: one for CO/Shipment pick lists, one for Maintenance Material Requisition pick lists generated from Work Orders, and one for Shop Order pick lists, which is why their numbering doesn't share a single incrementing sequence and why "Source Ref" options differ between them. "Pick by Choice" has been confirmed to work only for pick lists originating from Shipments — there's no confirmation of it being extended to the WO or Shop Order pick-list families, so don't assume feature parity across all three just because they share the "Pick List" name in the UI.