Your Bronco Sport has all those features, but your mid size Bronco does not.Yes, it absolutely reads the signs and the adaptive cruise control adjusts accordingly to your settings . For example, I set my speed limit to 5 miles over the speed limit. I'm I'm going 70 and the speed limit changes to 55, the cruise control will drive at 60 until I tap the brakes to turn off. I have this in my '21 Bronco Sport as well. It's similar to lane centering. There is a front facing camera behind the rear view mirror (if your vehicle has this system) that scans the road in front.
Link: Ford Speed Sign Recognition
Link: Adaptive Cruise Control with Stop-and-Go and Lane Centering
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