The default Third Person is Third Person Singular; you see the story out of one set of eyes. The usual variation is given as between deep and shallow immersion; the difference between describing what is seen and done as if it were seen on film, and describing all the interior life and thoughts as well.
But there’s a distinction I haven’t seen made. I’m gonna call it Clinical versus As-Experienced. The “As-Experieced” version of third-person deep immersion is, “Karl realized he was enjoying shooting the men streaming from the burning building.” The “Clinical” is the one that can go on, “Karl was acting out of a deep-seated nihilism he had yet to fully recognize.”
Anyhow. As far as I am concerned they can technically do the same things, just with a change in pronoun.
Art forms give humans a higher satisfaction in emotional release than simply managing emotions on their own. Art allows people to have a cathartic release of pent-up emotions either by creating work or by witnessing and pseudo-experiencing what they see in front of them.
Per Yngve Ohlin was a Swedish metal musician on a band called DEAD who had a spleen ruptured after being beaten up by bullies he was dead for a second but lived again. He is important because he inspired the corpse painting for the genre. I think that he was a great guy and that it was amazing that he survived a spleen rupture.