Titanium dioxide is not just a sunscreen. It’s also used to whiten a formula or to make it more opaque. I think that’s the case in the Olay product you mentioned. Based on where it appears on the ingredient list there’s not enough there to be a functional sunscreen.
Water, Dimethicone, Glycerin, Niacinamide, Sdimidetheicone Crosspolymer, Polymethylsilsesquioxane, Polyethylene, Panthenol, Palmitoyl Pentapeptide-4, Camellia Sinensis Leaf Extract, Tocopheryl Acetate, Allantoin, Polyacrylamide, Caprylyl Glycol, 1,2-Hexanediol, Phenoxyethanol, C13-14 Isoparaffin, Laureth-4, Dimethiconol, Acrylates/C10-30 Alkyl Acrylate Crosspolymer, Laureth-7, Sodium Peg-7 Olive Oil Carboxylate, Disodium Edta, Triethoxycaprylylsilane, Titanium Dioxide, Mica, Iron Oxides.