Yes. Even if two lights have the same apparent size and give the same exposure, they are not fully interchangeable.

A closer light falls off faster because of the inverse-square law. When the source is very near, small differences in subject distance matter more: for example, the near cheek is noticeably closer to the light than the far cheek, so brightness drops more quickly across the face or body. A farther light produces more even illumination because those distance differences are a smaller proportion of the total distance.

That also affects the look of the softness. Although apparent size is a major factor in softness, a larger source placed farther away can illuminate farther around the subject and appear to “wrap” more smoothly, while a smaller close source tends to show steeper falloff.

So, in practice:

• closer/smaller: faster falloff, more dramatic gradient across the subject
• farther/larger: slower falloff, more even coverage, often more wrap

They can be similar, but not identical.