Not on a per tree basis. Young forests sequester more carbon per year because you aren’t losing old trees, however sustainable harvesting changes the dynamics here. IE a 50k year old natural forest is very close to carbon neutral, but you can harvest wood from an old forest and change the equation as you don’t need to let dead limbs or trees rot.

Unfortunately when you cut down an old forest and convert it into a young one the old forests root mass rots thus releasing a great deal of stored carbon.