No. This just means that Chrome isn't installed anywhere Fiddler can find it, but the presence of Chrome in that dropdown is unrelated to whether traffic is captured from Chrome.
I think you're saying that you've used Help > Troubleshoot already and it didn't make any Chrome traffic appear?
In Chrome, if you type http://ipv4.fiddler:8888/
The most likely explanation is that you've installed a Chrome extension that changes your proxy settings (e.g. to try to provide some privacy feature, or some feature that allows you to watch videos from a different country, etc).
If you're unable to find or remove the extension, you might try launching Chrome thusly: chrome.exe --proxy-server=127.0.0.1:8888
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