Hello,
News page is a custom page where the content was created using Elementor > our Posts element https://prnt.sc/PtmcmFCO99ul
When you set this page as Posts Page, posts are shown there automatically and settings from Theme options have the highest priority. For example posts page from our demo – https://xstore.8theme.com/elementor/demos/book-store/blog/
Via Theme Options you can’t set up exactly the same styles that are available via Elementor element, unfortunately.
Regards