Device removed from Apple ID list but still in Find My — can it still sync iCloud data?

If an old device was previously signed into my Apple ID but was later removed from Settings > [my name] > Devices, (remotely from the new device), yet was not removed from the Find My app (still visible there) — it can’t still sync iCloud data like photos, right?

(The question is not connected to a specific problem i just wanted to understand the find my and list of devices in settings better)