Lots of good information and speculation in the preceding posts. I probably started a lot of it with my tongue in cheek post a few days ago. To be clear, I've driven my '20 FX4 MAX in a little bit of snow and ice and the wonder knob selections worked pretty good for snow. The mud and rut selection works really well for those conditions, I've had a lot more opportunities to use that so far than the snow mode. That being said a few clarifications of fact and another opinion or two:
According to my Ford buddies, both the transfer case (at least the 2 speed in my FX4) and the eLSD are, as mentioned above, "clutch" systems, the eLSD uses clutches acting on an actual geared differential, while the wet clutch system in the transfer case allows speed as well as torque "differentials" without actually containing a geared differential as many of you realized already.
However, when operating properly, both are designed to absolutely lock for a true 50/50 torque split and zero difference in velocity between the front and rear axles in the case of the transfer case and between the RH and LH rear axles in the eLSD's case. In the case of the eLSD, this can take place under certain conditions in certain knob modes as well as when the lock button is engaged. Similarly, the transfer case will completely lock the axles as well. Not surprisingly, high steering angles will "unlock" the transfer case and in certain modes the eLSD as well.
I'd still like the independent ability to "lock" the transfer case in high (4H). As many of us, I've driven a lot of vehicles in a lot of conditions (including a VW Polo, VW GTI, and Porsche 911 on the Nürburgring). Locking the "center differential" (hopefully gear diff aficionados will forgive the term) tends to keep the vehicle going in a straight line, resisting deflections from semi-frozen slush, etc. It also equalizes the braking force through all wheels allowing more braking force to be applied before and during ABS events. Finally, front wheels have less rolling resistance than undriven front wheels. Not knowing when some software programmer/tuner decided to disengage the "lock", or re engage it is what I find unsettling during certain higher performance situations.
Finally, the best 4x4 vehicle's I ever drove in the snow were 4x4 F150's of various vintages with manual transmissions and limited slip rear ends. The very best was an '86 F150. The 4x4 selector was shaped and positioned so that you could operate it with either your right foot or hand, moving from 2H to 4H and back instantly, no engagement lag. The engine braking and control available in snow with a manual trans 4x4 is unbelievable to the uninitiated. The traction "feel" available through the accelerator was unparalleled by any automatic trans 4x4 I've ever driven.