Yes, that are two of the most requested features for a Photos updates on the preview web page
Photos has been fine-tuned to make it even easier to manage your library. Now you can add a location to a single image or to an entire Moment. Naming your favorite people in Faces is faster with a streamlined workflow. You can also sort your albums — and the contents inside them — by date, title, and more.
That shows, that Apple is listening and it is great.
It is still worthwhile to keep sending feedback and describe, how the features should work.
The update has only been released as a beta version and is still under development and none of the above is available in the first Beta release. So we can still help the developers to get it perfect by telling them how we want it to work. It would be very disappointing, if we could only use the predefined places in Apple's database and not define our own places and give them a descriptive name.
You can also sort your albums — and the contents inside them — by date, title, and more.
It would help to tell Apple exactly what the "and more" should be, to make it useful. I am missing the ability to sort the photos by pixel size for example.