Yes exactly that! You have four note polyphony with the A4 and you can „distribute“ those four notes across the four tracks as you like. There are two (I believe) options to choose from in regard to where voices come from when you play polyphonically:
Option 1: all notes follow the sound of the track you‘re on - so for example if you have a pad sound on track 1 and track 1 is selected and you play a chord, all four notes use that patch - so it‘s like playing a regular polyphonic synth.
Option 2: each note follows the sound/patch of the respective patch - so the first note in a chord will use the patch of track 1, the second note will use the patch of track 2, the third note will use the patch of track 3, and the fourth note in your chord will use the patch of track 4. This can be useful if you want to modulate individual notes in a chord.
Personally I use Option 1 almost exclusively, it just suits me better.
Now let’s assume you use option 1 for polyphony and you have a nice pad patch going on track 1 and you sequence a chord progression consisting of four note chords.
Now you switch to track 2 to add a bassline to it. The A4 can handle four voices max, so by adding the bassline, one note from your four-note chords on track one will have to be dropped. The options you listed above let you choose WHICH note gets dropped.
My tip here is just experiment. Choose an option and start composing then see which of the modes suits your playing & composing style the most.
Also note that each track of the A4 has two oscillators and a sub oscillator, so you can also play with that and “trick” your way to more voices. An example: if you program a patch on track 1 with the two oscillators tuned seven steps apart (so a fifth), you cover two notes of a triad with a single voice (the root and the fifth). Now if you choose option 2 for polyphony, you can copy the same patch over to track 2 and tune both oscillators to the same pitch…if you now play two notes, eg the root (which will come from your patch track 1) and the third (which if you choose option 2 for polyphony will come from your patch on track 2) what you will hear is a triad (because: track 1’s osc 1 playing your root, track 1 osc 2 playing your fifth and track 2 osc 1/2 playing your third). Now you can use track 3 & 4 for mono duties each.
My point is: the A4 is SUPER FLEXIBLE and will follow you where you want to go if you experiment with it a bit and get to know it with time.
As it does a lot, my tip is that you start at the beginning, try to program a few patches that you like, play around with them and connect to the A4 this way. The more you do this, the more your needs and ideas will drive your decision making on how to use the A4 (rather than leading with its potential).
I hope this makes sense to you