Incremental Refresh Detect Changes Concept

Hello All,

I am looking to have some understanding regarding the Detect Changes option for Incremental Refresh. Here is how I am implementing incremental refresh currently.

Incremental Refresh is based on Submit Date. And I have a Detect Changes on Last Modified Date.

Now, Let's assume an incremental refresh happens on 05/21/2020 12:30 AM. I have a record with Submit Date 05/18/2020, but this record is modified on 05/20/2020 05:00 PM.

So what I would like to understand is will this record be refreshed when the incremental refresh happens on 05/21/2020 12:30 AM

Any help is appreciated.