Is there a way to limit child's phone hotspot?

My kids have school laptops that don’t do a great job of filtering internet. I’ve locked things down on the router level, but I want to limit their hotspot capability in case they ever figure out they can do that. They have iPhones.

I see a couple of possible options.

1. Does FamilyMode do anything toward limiting their hotspot usage or what sites they can access?
2. Do the iPhone Screen Time settings do anything toward filtering what sites they can go to via a hotspot? For instance, my younger kid can only visit a few sites. Does that filter then apply to hotspot connections served by the iPhone?

Maybe there’s something else I haven’t considered.