Hi sabrina51,
KB5054833 (SQL 2019 CU 32, Feb 2025) and KB5046859 (SQL 2019 GDR Nov 2024) are two independent rollups of sets of fixes.
For every SQL Server RTM release (2022, 2019, etc.), there are two update paths customers can take. The GDR path or the CU path. The GDR path only includes security updates and critical bug fixes. The CU path includes everything from the GDR path plus other bug fixes and maybe even some feature improvements.
So, to answer your question, the KB5054833 rollup should include all the fixes that were a part of the older KB5046859 rollup.
Disclaimer: I'm not the owner of the SQL Server update process. If there is a specific update you feel is missing from KB5054833 that is not in KB5046859, you should contact MS Support who can help you identify your specific issue and/or connect you with the authoritative experts.