Catch preferences are only available when Show Advanced Tools is selected in Advanced preferences.
“Catch when starting playback” checkbox: Turns on Catch mode whenever you click Play or Pause.
“Catch when moving playhead” checkbox: Turns on Catch mode whenever you move the playhead. This makes it easier to perform edits, as moving the playhead in the Tracks area is reflected in the open editor, and vice versa.
“Catch content by position if Catch and Link are enabled” checkbox: If the Catch button is turned on and Content Link is selected in the local View menu, the contents of the region at the current playhead position are shown. If turned off, the window view still follows the playhead position within the displayed region, but doesn’t update to show the contents of subsequent regions as the playhead passes them (in playback or record mode).