Does it still pause scrolling and stop whatever's running if you click on the window or press a key? That's one big reason why I still live in a plain old DOS box. It didn't appear that the Windows terminal developers had ever heard of ctrl-s.
Dang, I've never heard of anyone who actually _wanted_ that behavior haha, I've had so much wasted time in school projects where I thought something was running but it wasn't because I had selected text in cmd.exe haha.
If you are waiting for the output as an indication that a task completed and you never see that output you may think the task is still running but it is actually done.
I am not sure that if it actually stops the program, but it does at least stop programs from printing, so for anything that gives feedback on stderr/stdout you are at least pausing the main thread. I have a mostly-non-threaded program that this happens to, and it does not continue to send messages to other systems until I un-pause it.
Ctrl-Z suspends the program in most UNIX shells. ("fg" to resume)
Ctrl-S may or may not end up stopping the program, depending on how much it's printing, and how much output buffering there is before it blocks on writing more.
All my shell RCs turn off xon/xoff -- that's a relic from the PDP-11 days we can all do without.
Windows has the Scroll Lock button that's supposed to do this if you need it, but typically, just selecting a character in a terminal emulator will stop the scroll while still buffering the output.