That’s just a new term for the IDE’s traditional indexing process:
In WebStorm versions earlier than 2025.3, project analysis was called indexing.
So yes, it’s definitely required. It should really just be a terminology change and not something that suddenly spikes your CPUs when it didn’t before. If you’re seeing a dramatic change in 2026.1 vs. 2025.3 around that, I would recommend trying a full uninstall/reinstall of WebStorm to see if something got into a bad state from the upgrade.
Regards,
Scott Wells