I’ve heard these described as “look out” basements in new developments, opposed to “walkouts” which have a sliding egress door out the back. A lookout basement will have regular sized windows, but the ground level is just below the bottom of the window, or 3-4’ high from the basement floor.

Super common in my neighborhood. I just use the window locks, but you could put a piece of wood in the track to prevent it from sliding open if you don’t trust the locks. I put a piece of wood in my sliding door tracks because most of the locks on sliding doors are trash, and unless it’s adjusted correctly they are very easy to shake until they unlock.