I believe it is mostly the geometry that is different. If you look at a designated Aluminum (or other non-ferrous material) insert, one will note the high rake angle and the relatively small top radius (ie, the insert feels sharp).
My dedicated steel inserts seem much more blunt with almost no rake (other than the tool holder induced one). This requires much more DoC in a steel insert for it to work properly - thus no “sneaking up by thousands” to a dimension. The tool “calibration” has to happen before the last 10-25 one thousands as the min DoC may be 10-20 one thousands (or more).
This takes trust in your machine/tooling.
With “sharp” inserts (like the ones for aluminum and SS), much smaller DoC can still make the insert work properly, leaving the option to sneak up and have good surface finishes. (The kind of things hobby machinists like/want.)
HSS tooling is more forgiving (because it is usually sharp) than carbide inserts. Carbide does not like being razor sharp - it has a tendency to chip. Polishing the edge helps reduce that.