It does when you look at the code definitions in the service manual just inside the chassis. And then you can enter the diagnostics mode and have it do more self tests and report back exactly what's going on.
But as mentioned most big appliances usually have a small service manual tucked inside the chassis somewhere. Those will have these instructions and the table to decipher the error codes, along with some basic troubleshooting steps. It might also include official part numbers to replace components which might have failed. This is often true for washing machines, dryers, fridges, dishwashers, stuff like that.
On my GE units it even stores recent codes in case it experienced multiple different issues while running. You can cycle through the history in the maintenance mode.
I do agree though, in the end you still probably need the table to decipher the error codes.
Glad I could be helpful. It's good to empower people to solve their own problems and keep things working instead of replacing at the first sign of trouble. Always be open to opening up an appliance and looking for a service manual, they're often zip tied somewhere in there.
Computerized gadgets should help us diagnose and fix issues, not hinder! Good luck on your future wrenching on your own stuff :)