The low cut filter (high pass filter), as the name suggests, filters out sounds below the specified frequency (75Hz or 150Hz).
If you still have noise on the sound with the 75Hz setting, you can try 150Hz.
With the two settings you are a bit more flexible and can choose the better setting depending on the situation so that you do not filter out too large a frequency range.

Accordingly, I cannot tell you when the ideal situation is for which setting.

The best thing is to test them and check the sound during the recording.