The options in the sub-menu Sequence > Render All will render all clips in a sequence (images and sounds) that correspond to the render categories that are enabled ( ? ).

By definition, the category Full is not enabled. This category refers to sequences with real-time effects that can be played back and exported to video in full quality, without the need for rendering. There may be differences in Canvas between real-time playback and fully-rendered material. To ensure consistent playback quality in Canvas, enable (check) the category Full render, before rendering.

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Additional information

For more information about controlling render quality and its settings, select Final Cut Pro User Manual from the menu Final Cut Pro Help.