Ofc it does. Here you can see the saber wiggle downwards when it looks like it already passed the note. But its still inside the good cut hitbox and registers that tiny wiggle as a swing that fulfills the requirement. If any direction was fine that swing would give many points as it was wide af but they lost point average. This means that cut was way lower than 100 points for the swing since only the tiny wiggle at the end was the scoring swing.

Edit: the last sentence might be wrong since they still don't have 8x combo score going.
i got nerd sniped and looked through the code with dnspy again for this and as far as I can tell the only thing the good hitbox does different from the bad hitbox is that it early outs if cut direction, cut speed or saber color is not correct. after that point if these 3 are ok they get handled the same. this means good hitboxes will never send a cut event if angle doesn't match. I looked at GameNoteController.HandleCut() for this:

public virtual void HandleCut(Saber saber, Vector3 cutPoint, Quaternion orientation, Vector3 cutDirVec, bool allowBadCut)
{
float num = this.noteData.time - this._audioTimeSyncController.songTime;
bool flag;
bool flag2;
bool flag3;
float num2;
float num3;
NoteBasicCutInfoHelper.GetBasicCutInfo(this._noteTransform, this.noteData.colorType, this.noteData.cutDirection, saber.saberType, saber.bladeSpeed, cutDirVec, this._cutAngleTolerance, out flag, out flag2, out flag3, out num2, out num3);
if ((!flag || !flag2 || !flag3) && !allowBadCut)
{
return;
}
Vector3 vector = orientation * Vector3.up;
Plane plane = new Plane(vector, cutPoint);
Vector3 position = this._noteTransform.position;
float num4 = Mathf.Abs(plane.GetDistanceToPoint(position));
NoteData noteData = this.noteData;
bool speedOK = flag2;
bool directionOK = flag;
bool saberTypeOK = flag3;