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graphical is referring to a graph  or  its  in reference to monitors so no it doesn't make sense

"Graphical Settings" is a term that has been used for decades even back when I was a kid in the 80s and when I was working in video game industry in 2000s. It is fine. Graphical in GUI (Graphical User Interface) refers to graphics being used (such as buttons or dials, clickable by mouse cursor or touch) in the place of text input.