Yes, this is the HE equivalent.
From V5.0, page 10, under ordnance-firing SW
See the Carl Gustav counter depicted
From V5.0, page 19:
Some SWs, such as Bazookas (snip) have (snip) a number (snip) in a box on the lower-right front of their counter. The
number in the box represents its High-Explosive- equivalent (HE)
From V5.0, page 76:
The HE-equivalent of vehicles (15.0) and WTs (1.7) is in a square to the left of an unit’s Morale (3 on the M4A1 above); for SWs (1.6) it’s in a square on the lower right of the counter (2 on the Bazooka above and to the left).
