The 1512 x 982 mode is actually 3024 x 1964. MacOS is drawing text and objects using twice as many pixels vertically and horizontally (4 times as many pixels total) than it would use for a real or scaled 1512 x 982 mode.
You'll see this as "Looks like 1512 x 982" in the Displays preferences panel. SwitchResX will show it as a HiDPI mode. The Displays preferences panel has an option to unhide low resolution modes (modes that are not HiDPI).
Usually scaling by the GPU is used for any mode that doesn't match the 3024 x 1964 resolution of the display. The "Looks like 1512 x 982" is not a scaled mode since it matches the 3024 x 1964 resolution of the display.
The GPU could generate a mode that is not 3024 x 1964 which would then need to be scaled by the display (if the display has its own scaler).
To know if a mode is HiDPI or not, scaled by the GPU, or scaled by the display, you would need to use a utility like SwitchResX to view the timing info of the mode (pixel clock, active pixels, etc.).
For example, if you have a 4K display, and want to display 2560x1440, then there are a few ways to do that.
1) 2560x1440 framebuffer, scaled by the GPU to produce a 4K timing for DisplayPort output.
2) 2560x1440 framebuffer, to produce a 1440p timing for DisplayPort, scaled by the display to 4K.
3) 2560x1440 HiDPI mode, uses a framebuffer of 5120x2880, scaled by the GPU to produce a 4K timing for DisplayPort output.
4) 2560x1440 HiDPI mode, uses a framebuffer of 5120x2880 to produce a 5K timing for DisplayPort, scaled by the display down to 4K.
Some people might have a 5K display and select a 2560x1440 HiDPI mode, but it outputs as 4K from the GPU because they don't have the correct connection to the 5K display. The display scales up the 4K to 5K. MacOS won't notify the user of this issue. Some users don't even notice that they're not getting a 5K signal especially if they haven't seen 5K before.