Does Shopify Privacy & Compliance auto manage cookies?

[AmeyM]

If I am using Shopify Privacy & Compliance app, does the app automatically block cookies if a customer selects that option on the cookie consent/manage preferences pop up on my store? 

My Customer Privacy setting in Preferences is selected to "Collected After Consent". Does that mean that the app will then begin collecting cookies for my site automatically? 

I want to make sure I don't need to manually do anything, and that the privacy app is managing cookies appropriately based on the customer's selections. 

Thanks!