Yes, the difference is the thickness of the disc. A cutting disc will be thinner than a grinding disc. The 4-1/2" x 1/8" disc you have should work well. Typically the grinding discs are at least 1/4" thick. You can't put much side load on the thin cutting discs without breaking them, but you can use substantial force with the thicker discs. You would be well advised to use a full face shield when working with the cutting discs. The thin discs are rather fragile and if they bind they can easily shatter and fling shrapnel in all directions. The thicker grinding discs are somewhat safer, but I would still recommend a full face shield when using those as well.