The third sprint setting option for controller is misleading.

[IchigoMait]

It says Hold to Sprint, but it's actually move and push it once or well actually a toggle, as while you're moving and pushing it again will stop sprinting, but you won't slide to crouch.
You have to hold the L3, to do a slide animation to a crouch.
And if you want to crouch normally just stand still.

So much better than the default B/Circle to sprint or dodge and L3 to crouch.

Anyway that third setting is actually:
Hold to slide into a crouch while sprinting.
Toggle to sprint while walking.
Toggle to walk while sprinting.
Toggle to crouch while standing still.
Hold to crouch while walking, it'll do a little initial sprint, but it will go into crouch without sliding, so crouch while walking function isn't lost, but takes more time, than just standing still or compared to normal crouch while walking.