LionMaster is simply the name for larger engines that have been proportioned to fit on smaller layouts. The name doesn't necessarily identify the electronics in them.
As Marty stated, Legacy LionMaster engines do have the sensor track capability built-in.
LionChief Plus 2.0 LionMaster engines do not. This would be the newest Big Boy, SD80MAC, and Allegheny. None of which have shipped from Lionel yet.