Yes, usually when people talk about the "final pass" option they're usually talking about that checkbox in the Profile toolpath.
There are other ways to take a final pass. In your v-carve example, if you're taking multiple passes because your machine can't power through all that material in one pass, then the last one of those passes is sort of automatically a "final pass" because the tool will be touching the side of the cut top to bottom on that pass. If you want to redo that last pass just to make sure everything is cleaned up, you can copy the toolpath, but change the depth of cut for the tool to the maximum depth of the profile or greater by editing the tool for just that toolpath.
If you want to create a final pass for a profile toolpath without using the option on the toolpath screen (for example, maybe you want to cut all the parts down to all but the last .01" to leave an onion-skin to hold the parts in place, then go back and cut the onion skin to cut them out with less possibility of parts moving, and you want to cut the onion skin for all parts in one toolpath rather than one part at a time), then you can just create another profile toolpath with the start depth of however deep the first profile cut went, and a depth of cut of .01" to cut away the onion skin.
Basically you can set up your toolpaths with cut depths and offsets to create any sequence of cuts and final cuts you want.
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