Yeah, Little Snitch offers fine grained filtering control as it works at the "connection" level monitoring each and every connection, where as TripMode works at the "app" level only and either allows or blocks them from accessing the internet without any regards to the number of "connections" made or to whom the "connection" is made to.
And it works on broadband / fibre connections too, and not just for mobile data.
(Tip: Private Eye is a free software that allows you to monitor all connections made by any system or application softwares on your Mac. It's now bundled as part of another paid outbound firewall, similar to TripMode, called RadioSilence - https://radiosilenceapp.com/ but the free "monitoring only" version of Private Eye can still be found on the net).
LittleSnitch = I want to monitor every connection every application makes.
TripMode = I want to disable Dropbox, Apple Software Update & Steam while on MyPhoneHotspot.
That being said, I wish there was an OpenTripMode, or... something on Linux.