Does the machine have a “print and cut” mode without using the integrated printing module?

I saw a video that the OG M1 has a print and cut function where you can print stickers using XCS software and then machine can recognize the printed stickers using laser and cut around them.

I do not see this option with the M1 Ultra which is a huge bummer since this is the main reason I picked it up instead of Cricut for cutting and extra functionality.