Not according to Subbie. Here's a link from them that explains the differences...
What’s the Difference Between 4WD and AWD?
And here's a little snippet from that link...
"While AWD automatically varies among front, rear, and center differentials depending on needs, 4WD is typically paired with locked differentials. This means that both wheels on an axle are locked together, and all wheels receive power equally. All wheels in 4WD rotate at the same speed, regardless of which one requires extra traction. This can be useful when drivers find themselves stuck in snow, mud, or rocky terrain and need an extra jolt to free their vehicle. This is also true of AWD, which offers added traction by sending power to all wheels in muddy, sandy, or icy conditions."
I personally still have a hard time wrapping my head around the real-world differences. Subaru is known to have the gold standard of AWD systems, and many other vehicle manufactures are quickly catching up. If an AWD system is able to send power to all wheels at the same time and/or can almost instantaneously monitor slip and send more power to the wheels that have the traction, isn't this just as good (or maybe even better)?
I have a 2018 Honda CRV which in my opinion has a very good AWD system, and I believe the newest versions are even better. I have driven mine on top of a frozen lake with snow on it that was higher than the front bumper. The wheels just chewed right through it. I did have to keep moving in order to keep the car from sinking into the snow and getting stuck, but even so I was pretty impressed. I think with a good AWD system (just like in my example) it's way more about ground clearance than it is about having a locked transfer case.
One more thing that I don't completely buy about true 4 wheel drives being better... In the above quote from Subaru it says "All wheels in 4WD rotate at the same speed, regardless of which one requires extra traction". That's just not true. At least not if you don't have a limited slip or full lock-up rear differential. Besides the CRV, I also own an old 4WD Ford Ranger. In 2WD mode, just one wheel will spin if it looses traction. I'm pretty sure in 4WD you will have 3 wheels that have power, but the rear wheel that's in the snow or mud will just spin and be almost useless, while the other rear wheel that actually might be on solid ground will get nothing. This makes it worse than a good AWD system, no?