You’d need to ask the partner why the change is required. Without knowing what you and they are trying to achieve it’s not possible to offer an opinion of the correct configuration.
So basically, the Cache Everything would also cache URLs ending without “JS”, “PNG”, “MP3”… (in that list), and the standard cache would only cache URLs ending with them?
What about a page itself like this? It’s not ending with any extension.
If there’s content there, Cloudflare will cache it with Cache Everything. That’s how I cache WordPress Pages (but with a Bypass Cache on Cookie setting on a Business plan so admin access isn’t cached).