unless you have a laptop with scanning software on it, that won't work, so probably not an improvement. I used a very similar cable, laptop, and FORscan software to talk to the body ECUs on my older F-150. I no longer use that setup.
Your 20 YO Harbor freight scanner hasn't been updated in 20 years, so it's missing a bunch of the newer protocols, and some of the manufacturer specific codes. It will (or should) pull the rock basic OBDII alpha-numeric codes still, as the base protocols haven't changed, just the extra stuff.
If you want the extra codes, newer definitions built in and data-logging/streaming capability, you will need to upgrade to a newer scanner, a laptop with scan software, or a Bluetooth OBD II dongle and android/iOS scanning software.
Personally, I prefer the bluetooth/Android solution, but I'm comfortable with sideloading APKs on my tablet and using it. I like not dragging a whole laptop out to the vehicle. IME those kind of apps really shine when you start coding the computers for different stuff (tire/gear size, fuel trim maps, unused computer options from other regions, stuff like that)
For basic troubleshooting a dedicated scantool is still the easiest.
Something like this has full OBDII and some CANbus functionality, and gives you live data for some sensors.
You can get more functionality and add things like ABS bleeding ability with more expensive tools.
Kinda depends on how much you are looking to muck with the computers.