They’re different, but yes, more or less.
Dogs have more smell neurons and more of their brain seems to be devoted to smelling, but cats may be more sensitive, as they have 30 V1R receptors versus 9 in dogs and 2 in humans.
Cats can hear one octave higher frequencies than dogs, and have a sense of distance to the sound source. If a sound source is three feet away, they can tell where it is to within 3 inches. Their ears can each rotate and aim to zero in on sounds.