I did find a second o2 sensor, immediately after the cat. So my common sense tells me that the computer is essentially measuring the “effectiveness” of my cat? I don’t really understand why I’d need an o2 sensor right before and then right after otherwise, but I’m no car engineer.
When the OBD2 law past one of the requirements was that if any system produced 150% of allowable emissions the CEL must turn on. At that point the manufacturers started running active tests on systems vs looking at individual components. While driving at a steady speed the ECM May look at the cat efficiency by duty cycling the injectors and comparing the upstream vs downstream sensors to check how well the cat is working. These are “system monitors “ if you have emissions testing one of the things they will do is test to see if the monitors have cleared before running on a Dyno. When my truck was newer they would just plug in the scanner and see if all the monitors are cleared, if they are my vehicle would pass. No dyno testing required. Still cost the same though.