Will 'Erase SD card' fully format it? My Android 4.2 phone only has an option Erase SD card under System Settings, but not an option to format.

My card has read errors on some files I want to fully format it to check if it's just a case of logical disk errors (those would go away) or if it's hardware and I should replace it.

I did try this (what's to lose?) and it said Checking SD card and was done in a few seconds; that's what makes me ask the question.

Would plugging it into my Windows computer and formatting it there be better? Or running chkdsk?

I know that there is not really an old-fashioned formatting going on on SSD devices, but I want all card logical sectors to be scanned (read) for errors. Will 'erase' do that?
Erasing the SD Card will format it. If you doubt it, then it would be better to use a card reader and format it via PC.