The Visual Conditional tags, The different Settings > Reading here. When shows.
1. Your latest posts >> is_front_page() and is_home() both will work.
URL > example.com
2. A static page having
a) Homepage: A Static Page. ONLY is_front_page() will work.
URL > example.com
b) Post Page: None (-Select-)
3. A static page having
a) Homepage: A Static Page (Frontpage) is_front_page() will work.
URL> example.com
b) Post Page: 2nd Page(Blog/post page) is_home() will work.
URL > example.com/blog/
This makes you clear that when a conditional tag will work on different Reading settings to do the stuff or function.