I’ve got the Marvels, which are very similar. Here is my experience with these 2 sliders that may be helpful:
From the Phonak app:
Noise reduction: This slider allows you to adjust the level of background noise for comfort or to make listening to speech easier when you are in a noisy situation. Move the slider to the right to reduce noise (e.g. air conditioning, wind noise when outdoors or restaurant noise from side and behind) or move the slider to the left to hear more environmental sounds around you.
My experience has been pretty close to their explanation and I notice it the most often when driving in my truck. I can increase the noise reduction when lowers the noise I hear, but it is always at the expense of hearing my passenger as well. Usually I’ll give the volume a little bump to compensate. I rarely slide it the other way, but I have a few times when my wife asks if I can hear something and I won’t be able to hear it unless I turn off the noise reduction.
Dynamic: Move the slider to the left to reduce loud sounds when in loud situations, e.g., in a football game while loud music is playing in the break or move the slider to the right to increase soft sounds, e.g. in a park while birds are singing or leaves are rustling in the trees during a breezy night.
My experience with this slider is more around being in quiet situations where sudden loud sounds seem to be overly amplified. I haven’t found it to work great and reading the description above makes me think it’s more geared towards overall fluctuations instead of just quiet to noisy like I’ve experienced. I’ve adjusted it when I’m sitting near the kitchen and someone is banging dishes and that’s the only sound in the house so it seems like it’s very loud and the hearing aids don’t have time to tamp it down because it’s such a dynamic spike.