Yes, absolutely. Wrap3 can do the same things that ZWrap and many more because it has much more tools. While Wrap3 is more suitable for artists who work with retopology every day (like processing dozens of FACs scans), ZWrap is for artists who want a simple and user-friendly tool and don’t want to deal with a node-graph architecture.
Yes, the points should be selected manually in both Wrap3 and ZWrap.