Yes and no. SpawnActor creates an instance of an actor from assets that may or may not already be loaded in memory. When you create an actor using SpawnActor the actor needs to load its mesh into memory. You can’t use SpawnActor on a mesh - you need to load the mesh data from the disk if it is not already loaded.
SpawnActor creates an instance of an Actor and adds it to the level. The Load Asset node (whatever it is called) solely loads the object into RAM and makes it usable (makes a valid reference).